Long Term Care Insurance

Long-term care insurance in Illinois, an insurance product sold in the United States, helps provide for the cost of long term care beyond a predetermined period.

Long-term care insurance covers care generally not covered by Health Insurance, Medicare or Medicaid. Individuals who require long-term care are generally not sick in the traditional sense, but instead, are unable to perform the basic activities of daily living such as dressing, bathing, eating, toileting, getting in and out of a bed or chair, and walking.

Long-term care isn’t necessarily long term. A person may need care for only a few months to recover from surgery or illness.
As individuals age, there is an increased risk of needing long-term care.

In the United States, Medicare will not cover the expenses of long-term care, but Medicaid will for those who can not afford to pay.

Long-term care insurance, an insurance product sold in the United States helps provide for the cost of long term care beyond a predetermined period. Long-term care insurance covers care generally not covered by Health Insurance, Medicare or Medicaid.

Individuals who require long term care are generally not sick in the traditional sense, but instead, are unable to perform the basic activities of daily living (ADLs) such as dressing, bathing, eating, toileting, continence, transferring (getting in and out of a bed or chair), and walking.

Age is not a determining factor in needing long term care. About 60 percent of individuals over age 65 will require at least some type of long term care services during their lifetime. About 40% of those receiving long-term care today are between 18 and 64. Once a change of health occurs long term care insurance may not be available. Early onset (before age 65) Alzheimer’s and Parkinson’s disease are rare but do occur.

In the United States, Medicaid usually will not cover long term care provided in a home setting or for assisted living, however, Medicaid does provide medically necessary services for people with low income or limited resources who need nursing home care but can stay at home with special community care services. People who need long term care traditionally prefer care in the home or in a private room in an assisted living facility.

Long term care insurance generally covers home care, assisted living, nursing home respite care, adult daycare, hospice care, and Alzheimer’s facilities. If home care coverage is purchased, long term care insurance can pay for home care, often from the first day. It will pay for a visiting or live in caregiver, companion, housekeeper, therapist or private duty nurse up to 7 days a week, 24 hours a day (up to the policy benefit maximum).

Many individuals may feel uncomfortable relying on their children or family members for support, and find that long term care insurance could help cover many of the out of pocket expenses associated with long term care. Without long-term care insurance, the cost of providing these services may quickly deplete the savings of the individual and/or their family.

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