Long Term Care
The U.S. Department of Health and Human Services statistics show that at least 70 percent of people over age 65 will require some Long Term Care services at some point in their lives. And, contrary to what many people believe, Medicare and private health insurance programs do not pay for the majority of Long Term Care services that most people need - help with personal care such as dressing or using the bathroom independently. Planning is essential for you to be able to get the care you might need.
Factors that increase your risk of needing Long Term Care are:
- Age - The risk generally increases as you get older.
- Marital Status - Single people are more likely to need care from a paid provider.
- Gender - Women are at a higher risk than men, primarily because they tend to live longer.
- Lifestyle - Poor diet and exercise habits can increase your risk.
- Health and Family History - also impact your risk.
This year, about 9 million Americans over the age of 65 will need Long Term Care services. By 2020, that number will increase to 12 million. While most people who need Long Term Care are age 65 or older, a person can need Long Term Care services at any age. Forty (40) percent of people currently receiving Long Term Care are adults 18 to 64 years old.
families and small businesses who are in need of insurance information. Our integrated suite of online services facilitates a comprehensive search and review of leading insurance companies.
Long Term Care and Medicaid - Long Term Care Insurance Partnership Program
The Long Term Care Insurance Partnership Program is a Federally-supported, state-operated initiative that allows individuals who purchase a qualified long term care insurance policy to protect a portion of their assets that they would typically need to spend down prior to qualifying for Medicaid coverage.
Once you purchase a long term care insurance partnership policy and use some or all of your policy benefits, the amount of the policy benefits used will be disregarded for purposes of calculating your eligibility for Medicaid. This means that you are able to keep your assets up to the amount of the policy benefits you purchased and used, therefore you do not need to spend those assets before qualifying for Medicaid program.
We offer Long Term Care insurance products to help you protect the wealth you have worked hard to accumulate. Consider protecting the assets you have built. Long Term Care insurance can help you do that by helping to pay for the care you need, instead of having to use your - or your families' - savings.