Do I need to buy long term care insurance?
Only you can answer that question. But keep in mind the following as you are making your decision:
- Studies have shown that over 60% of all individuals will need long term care at some point in their life.
- Over 40% of all people needing long term care are under the age of 65.
- Medicaid only covers long term care delivered in nursing homes for very poor individuals with limited savings and assets.
- Medicare covers an extremely limited amount of long term care services delivered in residential facilities such as nursing homes.
- Most long term care policies cover services delivered in the patient's home, as well as in community and residential facilities.
- Long term care insurance can be expensive, since long term care itself is not cheap.
For More Information
For more information on long term care, see: