What is LTC Insurance and What Does it Cover?
Long-term care insurance “LTC Insurance” generally covers home care, assisted living, adult daycare, respite care, hospice care, nursing home 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 is needed. 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). A Long term care insurance policy is sold by private insurance companies and usually covers medical care and non-medical care to help individuals with their personal care needs, such as bathing, dressing, using the bathroom, and eating. While a private long-term care insurance policy is not new, they have received added attention because of growing concern about future health care needs, as well as recent laws that impact the tax status of the benefits offered under these plans. We take the guess work out of finding the righ
