Long Term Care Insurance Plans and Coverage

Contrary to popular belief, there is no coverage by Medicare, Medicare Supplements or HMO’s for long stays in a nursing facility or for home health care, even if you were hospitalized before the need for such care. The only way to have insurance for long term nursing care is to buy a long term care policy.

You must be in good health in order to qualify for the coverage. The younger you are when you buy the plan, the lower the annual cost. The best policies offer broad coverage for care including nursing home care, home health care and benefits for people needing assisted living care. An inflation rider can be added to keep the benefit in line with future cost of living increases. Also, policies should reimburse for mental conditions, such as Alzheimer’s Disease, as well as physical infirmities. A hospital stay should not be a prerequisite to collecting benefits under this policy.