The U.S. Department of Health and Human Services provides comprehensive information on Long Term Care (LTC) insurance—the types of programs available and potential options on how you might pay for them.
Here, we give you a quick overview on LTC insurance benefits.
To help you get started on your search for Long-Term Care (LTC) insurance, we list below some benefits offered by LTC insurance providers. It is important to know exactly what benefits you are eligible for, long before you need them. That way you have time to make a plan for any out-of-pocket expenses you’ll be responsible for.
Each provision listed below affects the monthly premium you would pay:
- Type of Care: may include home-based (skilled nursing, home-maker, and companion) care, respite care, adult daycare, nursing home, and hospice.
- Elimination Period: the 30- to 90-day period after your long-term care benefits kick in but are not yet paid for by the insurance company; you must cover them out-of-pocket.
- Length of Care: the number of years your policy will cover the costs of care.
- Inflation Rider: protects against rising costs of care (inflation) over time.
- Life-Time Maximum Coverage: the total dollar amount available to spend on long-term care.
Related Reading
U.S. Department of Health and Human Services: National Clearing House on Long-Term Care information
Long Term Care Insurance: Understand Your Options Before You Buy published by pbs.org
Montana—2011 Long-Term Care Rate Comparison Guide published by Montana Commissioner of Securities & Insurance (Office of the State Auditor)
Guide to Long-Term Care (PDF) published by the non-profit American Health Insurance Plans (AHIP)
Loyal Care is a non-medical, in-home provider of private duty care located in Kalispell, MT. We serve individuals, including Medicaid-eligible and Veterans, who need short-term, long-term, or long-distance home-based care.
For information about our home-based care services, please visit www.loyalcaremt.com.
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