Long-term care is typically not covered by your health plan, disability coverage or Medicare. Medicaid covers long-term care only after you have used up your assets paying for care.
A long term care policy can pay benefits one of the following ways…. |
- Reimbursement: actual expenses paid up to the policy daily benefit.
- Indemnity: Once you are receiving eligible benefits, you receive your policy maximum benefit regardless of how much is spent.
- Cash benefit: Once eligible, you receive your policy maximum benefit, even if no services are being used.
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| Long-term care insurance helps you…. |
- Maintain flexibility - care can be given at home or in a facility
- Protect assets and savings
- Avoid burdening friends and family
- Retain independence
- Preserve quality of life
- Stay at home as long as possible
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