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What is long-term-care insurance?

Long-term care insurance covers a range of supportive services (medical and non-medical) that an individual may need when they are no longer able to perform many day-to-day activities or tasks on their own. Activities of daily living, commonly known as ADL’s, include tasks such as feeding, bathing, toileting, dressing, or transferring from a bed to chair.

Additionally, long-term-care covers services that may help individuals with other everyday essential tasks. These supportive tasks include medication reminders, house cleaning, errands, and meal preparation.

LTC covers care services whether it be in the individual’s own home or in a facility. Who provides care may depend on the individual’s needs, but many times can come from a family caregiver, a homecare company, an adult day service, or a facility.

How do you know if long-term-care insurance is right for you?

LTC may be right for you if:

• You want to be able to pay for your own care when it is needed down the road.
• You like the idea of being independent as long as possible.
• You are able to afford the premiums and have a good income and amount of assets.

LTC may NOT be right for you if:

• You have a limited amount of income or assets.
• You struggle paying for day-to-day necessities such as housing, rent, food, medications, etc.
• Your only income is through a Social Security benefit or SSI (Supplemental Security Income) and you can’t afford the premiums.

Companies like Aspen Senior Care, an in-home personal care agency, want to help make sure seniors get the most bang for their buck. Cindy Harris, a LTC Claim Specialist with Aspen, says that many people don’t utilize their long-term-care options as well as they could.

“My job is to work with LTC insurance companies and get them to pay claims on our clients’ behalf,” says Cindy. “That way they get the full care they need and don’t have to worry that they won’t get the coverage they’ve paid for!”