What Is Long Term Care Insurance?

One of the biggest obstacles that consumers face when it comes to long term care is the mental picture of where that care will take place.  

Most are quite shocked to find out that in many cases the care is provided at home.  

The only problem is that most people do not realize that the burden of care usually is put upon a loved one such as a spouse or child.

You have a couple of options when considering your long term care and how you pay for it.  

What Is Long Term Care Insurance_

We will discuss common long term care insurance questions, the costs and your options to help you make the best decision for your future care. 

What Is Long-Term Care?

Long-term care is assistance people need when they no longer can care for themselves.

This may be due to an accident, disability, prolonged illness or the simple process of aging.

Long-term care services include: 

Help at home with day-to-day activities, such as cooking, cleaning, bathing and dressing.

Care in the community, such as in an adult day care facility.

Supervised care provided in an assisted living facility.

Long-term care insurance can help pay for the services you need in a setting that’s right for you.

Free Medicare Supplement Quote Comparison

What do long-term care services cost?

Long-term care services can be expensive, and costs vary widely based on where you live.


The average daily rate for a private room in a nursing home is $203, or $74,095 per year.

The average daily rate for a semi-private room in a nursing home is $176, or $64,240 per year.

The average hourly rate for a home health aide is $19.

The average hourly rate for a homemaker/companion is $17.

Source: The MetLife Market Survey of Nursing Home & Home Care Costs. September 2005, MetLife Mature Market Institute

How will I pay for long-term care services?

You have a variety of options when it comes to paying for the long-term care services you need.

Here are some options to pay for your long term care services: 

You can pay for these services out of your own pocket and risk depleting a lifetime of savings.

You can apply for Medicaid, but you will be required to spend down your assets to meet federal and state requirements in order to be eligible.

You can purchase an individual long-term care insurance policy.

Will my Health Insurance or Medicare pay the bills?

Many people are surprised to learn that most health insurance policies, including Medicare and Medicare Supplements, do not cover most long-term care costs.

Medicare will not pay for assisted living care and only a limited amount for skilled home care, which is not the ongoing personal assistance most people need.

Medicare only pays about 12% of costs for short-term care in a nursing home following hospitalization.

The sooner you begin planning for your long-term care needs, the better.

Free Medicare Supplement Insurance Quotes

If your health changes or you’re in an accident, you could become uninsurable.

And, because premiums are based on your age when you apply, the sooner you act, the lower your premiums.

How can I afford a Long Term Care policy?

I can’t afford a $10,000 a year premium!  

This statement is more based on myths than facts.  

Most people do not pay anywhere close to this amount for a long term care policy.  

Is it possible?  


A person who waits until they are age 80 and has multiple health conditions could very well end up paying a premium like that.  

It is for this very reason that we advise our clients on purchasing their coverage as soon as possible.  

In addition there are certain riders that are better suited for some people but not for others.  

Your long term care plan should be custom tailored for you….and that is exactly what we do.

Take Action! 

The simple truth is that every day you wait, you remain unprotected, you risk becoming uninsurable and the cost of coverage will cost more.

Long-term care insurance can help protect your assets and also preserve your freedom of choice – the choice to remain independent, not burden family or friends with your care – and a choice to keep a lifetime of savings intact for the things you really want to do.

Request a free long-term care quote with Senior Benefit Services today!