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Understand How To Pay For Long-Term Care
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According to the Medicare Handbook:
Long-term care is non-medical care for people who have a chronic illness or disability. Non-medical care includes non-skilled personal care assistance, like help with everyday activities, including dressing, bathing, and using the bathroom. At least 70% of people over 65 will need long-term care services at some point. Medicare and most health insurance plans, including Medicare Supplement Insurance (Medigap) policies, DO NOT pay for long-term care, also called custodial care.
So how do you pay for long-term care if it’s not covered by Medicare?
Long-term care insurance
This type of private insurance can help pay for many types of long-term care, including both skilled and non-skilled (custodial) care. Contact your insurance agent for more information about long-term care insurance.
Sincere Care is a Long-term care provider we accept long-term care insurance, private pay, and other private options. Which ever way you decide to pay for your long-term care, we promise to make it affordable, just give us a call to talk to one of our knowledgeable care managers. 626-398-2098
Personal resources
You can use your own resources to pay for long-term care. Some insurance companies let you use your life insurance policy to pay for long-term care. Ask your insurance agent how this works. You may also choose to pay for long-term care through a trust or annuity.
Other private options
Besides long-term care insurance and personal resources, you may choose to pay for long-term care through a trust or annuity. Certain private insurance such as VA (Veterans Administration) insurance, Railroad or Steelworkers health plans or other private insurance may also cover long-term care.