Long-Term Care is a broad range of services provided over an extended time period in a variety of settings, including your home, due to a chronic illness, physical disability, or cognitive impairment.

What is Long-Term Care Insurance?

Long-Term Care insurance is a policy that gives you a source of funds to help pay for long term care and long term care services.

Why is Long-Term Care Insurance Important?

Long-Term Care expenses are not covered by health or disability coverage.  A health plan is designed to cover medical care provided by a hospital or doctor; and disability insurance replaces income if you are unable to work.  However, neither pay for assistance with basic daily activities over the long-term, or for care in your home required by an accident or illness. These costs can be quite expensive. Consider this:

• The national average cost for a nursing home stay per year is $55,000¹ .
  

• Nursing home costs have been going up about 5% per year. In 2032, costs for semi-private rooms are expected to be $190,600.² (Costs vary by type of care received and geography.)
  

• The national average for home health care is over $28,000. This is based on a rate of $18 per hour, five hours a day, five days a week, for a home health aid. This figure is expected to climb to $68,000 by 2030.³