Long-term care insurance, explained
Many people need help with everyday activities as they get older or after an illness. Long-term care insurance can help pay for that care, so it doesn't fall entirely on your savings or your family. I'll explain how it works, in plain English, and help you compare options.
What long-term care insurance can help pay for
Long-term care insurance helps pay for care when you need help with everyday activities because of a chronic illness, a disability, or memory loss such as dementia. What's covered depends on the policy.
Care at home
Help from a home care aide with things like bathing, dressing, meals and getting around, so you can stay in your own home longer.
Assisted living
A residence where you keep your own space, with help nearby for daily care, medications and meals, when living at home is no longer the best fit.
Nursing home care
Around-the-clock care and supervision in a nursing home, for people who need more help than home care or assisted living can provide.
Two main types of policies
Both can help pay for long-term care. They work differently, so the right fit depends on your goals, health and budget.
Traditional long-term care insuranceCoverage just for long-term care
You pay premiums, and if you need covered care, the policy helps pay for it. If you never need care, there's generally no payout. Premiums usually aren't locked in and may go up over time.
Often a fit if: you want coverage focused only on long-term care.
Hybrid life and long-term careLife insurance with long-term care benefits
A life insurance policy with long-term care benefits built in. If you need care, you can use part of the policy to help pay for it. If you don't, your beneficiaries receive the life insurance benefit.
Often a fit if: you want the policy to pay out either way, for care or for your family.
When to start thinking about it
- In your 50s or early 60s. Many people start looking then. You answer health questions when you apply, so it's usually easier to qualify while you're healthy.
- Before a health change. A new diagnosis can make coverage harder to get, or rule it out.
- When you plan for retirement. Think about how you'd pay for care and who would provide it.
- When family caregiving is on your mind. A plan now can take pressure off your spouse or children later.
Questions to think about
- Where would you want to receive care: at home, or somewhere else?
- How would you pay for care today?
- Do you want to protect savings for a spouse or your children?
- Do you already have life insurance that could be part of the plan?
How I help
Talk it through
We talk about your health, your family, your budget and the kind of care you'd want.
Compare your options
I explain traditional and hybrid options side by side, in plain English.
Apply and stay in touch
I help with the application and stay your contact for questions over the years.
Learn more from official sources
Free, unbiased information about planning for long-term care.
Medicare and long-term care
What Medicare does and doesn't cover, and other ways people pay for long-term care.
Planning for long-term care
Federal planning information from the Administration for Community Living.
Florida Department of Elder Affairs
State programs and local help for older Floridians and their caregivers.
Long-term care questions, answered
Straight answers to the questions I hear most.
Does Medicare pay for long-term care?
Generally, no. Medicare doesn't pay for long-term custodial care, like ongoing help with bathing, dressing or eating. It may cover short-term skilled care or some home health care after an illness or injury, when certain conditions are met.
What's the difference between traditional and hybrid policies?
A traditional policy covers long-term care only. A hybrid policy combines life insurance with long-term care benefits, so it pays for care if you need it, or pays your beneficiaries if you don't.
When should I look at long-term care insurance?
There's no single right age. Many people start looking in their 50s or early 60s. You answer health questions when you apply, so it's usually easier to qualify while you're healthy.
Does Medicaid pay for long-term care?
Medicaid can help pay for long-term care for people who meet strict income and asset rules. It's worth understanding those rules early. The official resources above can explain them.
Does it cost anything to work with you?
No. There's no fee for my help.
Let's talk about long-term care
No pressure. Just clear answers about your options.
Related: Medicare help · Life insurance