What is Long Term Care?

Long-Term care needs naturally increases with age or for those who have experienced unfortunate accidents or suffer due to life long medical complications. 

As overall life expectancy increases, the need for long term care does as well. 

According to the U.S Department of Health and Human Services, about 70 percent of individuals over the age of 65 will require some type of long-term care services during the lifetimes. Over 40 percent will need care in a nursing home for some period.

LTC insurance coverage designed to compliment your existing medical coverages such as Medicare or any other active health insurance coverage as private health insurance provides no LTC coverage and Medicare coverage is extremely limited. 

Medicare provides limited short term skilled nursing/rehabilitation care ONLY after a qualified 3 day hospital stay due to an acute condition such as a stroke or heart attack. Other qualifications apply:

• Post hospital stay, Medicare LTC patient is to be admitted to the skilled care facility within 30 days of discharge from the hospital.
• A doctor must certify that skilled care is required.
• The services or care must be delivered by a Medicare-certified facility.

Additionally, Medicare's skilled nursing facility (SNF) financial coverage is also limited. Medicare covers SNF as follows:

• Days 1 through 20—Medicare pays 100 percent of the approved cost.
• Days 21 through 100—The beneficiary is responsible for a daily co-payment; Medicare pays the balance.
• Days 101 and beyond—Medicare pays nothing.

Medicare does NOT cover custodial home health care.