When you think of your “golden years,” do you include illness and age-related medical care alongside your dreams of that perfect retirement home, scampering grandchildren, or long walks on the beach with your spouse? Of course, you don’t. None of us want to consider that, one day, we may succumb to a debilitating illness that requires long-term medical care.

Nevertheless, a pound of prevention is still worth a pound of cure, especially when it comes to insuring yourself against the crippling costs of long-term care in a nursing facility or through an in-home nursing service. That’s why we offer Long-term Care Insurance through Snyder Insurance and Financial Services!

How Long-Term Care Insurance Works

Long-term care insurance (LTC or LTCI), helps provide for the cost of long term care beyond a predetermined period. Long term care is generally not covered by standard health insurance, Medicare, or Medicaid. The term “long-term care” pertains to aid for persons who are chronically ill, suffer from a disability or another condition that requires daily care over an extensive period of time. The type of care that may be required ranges from help for routine daily actions to expert care by medical professionals, such as a nurse or therapist.

Generally speaking, employer-based health insurance doesn’t cover day-to-day, extended care service. Medicare covers brief stays at nursing homes, or limited amounts of care in the home, but the circumstances are very restricted. In order to prepare for possible long term care coverage, some will elect to take out a long-term care policy.

Who Needs Long-Term Care Insurance?

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, toiletry, continence, transferring (getting in and out of a bed or chair), and walking.

This type of coverage assures policyholders a daily amount for assisted care that is day-to-day: like baths, getting dressed or eating. There are a variety of options and benefits allowing the policy holder to receive services needed.

Long-Term Care Insurance Cost Depends On Several Things:

  • The age of the person when obtaining coverage
  • The daily maximum charge for required services
  • The total days or years a policy will pay for
  • Establishing the full amount of long term care insurance cost; which is done by calculating costs per day, times the amount of days (or years) of care
  • Additional benefit options selected by the policy holder will also be taken into account

Long-term care insurance (LTC or LTCI) 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, toiletry, continence, transferring (getting in and out of a bed or chair), and walking.

The team at Snyder Insurance will help you determine what kind and how much long term care coverage is right for you and your budget.

Benefits

Long-term care insurance generally covers home care, assisted living, adult daycare, respite care, hospice care, nursing home and Alzheimer’s facilities. Other or additional benefits/options may be available.

Learn More

Does long term care insurance make sense for you? Contact us today to discuss your options, or watch the videos on this page to learn how –  for only a few dollars a month –  your income, your family and your lifestyle can be protected.