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Long-Term Healthcare Insurance – Is It Right for You?You may have heard a lot about insurance at work or in the media, but with all the different kinds of insurance floating around, it’s easy to get confused about what you really need. You may be less familiar with long-term healthcare insurance than you are of other types. But if you’re like the average American, you’ll probably live to be at least 77 years old, so long-term care will be important for your future. It’s vital that you make decisions about your upcoming care as soon as possible. So, let’s take a look at a few important questions you may have. What is long-term healthcare insurance? Think of it as insurance that covers the cost of healthcare for people with chronic illness or disabilities. It can cover nursing homes, assisted living facilities and in-home care (such as bathing and dressing). These costs aren’t covered by Medicare or most other private insurance companies. Medicaid does cover these costs, but you’ll have to use up most of your savings and assets in order to qualify for Medicaid. Disclaimer: The information provided in this site is not legal advice, but general information on financial issues commonly encountered. We shall not be liable for any errors in the content or for any actions taken in reliance thereon. Please consult your financial advisor. |