Won't the Federal Government pay for my long-term care?
While many people think the federal government pays for long-term care expenses, much of nursing home expenses are paid out-of-pocket by individuals and their families. Neither Medicare, Medicare Supplement Insurance, nor the major medical health insurance provided by employers is designed to pay for long-term care expenses.
What is the cost of waiting to purchase Long-Term Care Insurance?
If you’re thinking of waiting to purchase Long-Term Care Insurance coverage, consider the impact of waiting:
- Increases the risk of being ineligible for insurance
- Decreases the overall time you have Long-Term Care Insurance protection
- Can increase the overall cost of coverage because premium rates increase with age
Waiting delays your long-term care security and can cost you money.
What is the cost of Long-Term Care?
The cost of care for home healthcare services and facility care varies from state to state.