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Long-Term Care (LTC) Insurance

October 6, 2016

Why You May Want to Consider LTC Coverage

Long-term care (LTC) plans provide insurance coverage for extended-care scenarios typically not covered by Medicare or Medicaid. Original Medicare, Part A and Part B, include limited coverage of long-term care under certain conditions. A different government program, Medicaid, might help pay for long-term care if you qualify for the program.

There are several LTC providers in the U.S. offering differing levels of coverage at various prices. While benefits vary from plan to plan, LTC companies often provide some level of coverage for hospice care, Alzheimer’s facilities, assisted living facilities, and home care. Because benefits may vary among plans, you may want to review benefit details before enrolling in a plan. Waiting until retirement to enroll in a LTC plan may lead to higher premiums.

LTC plans fall into two categories: Tax Qualified (TQ) and Non-Tax Qualified (NTQ). Benefits in TQ plans are not subject to taxation while benefits in NTQ plans are potentially taxable.

Our affiliate, eHealthInsurance Services, Inc., provides assistance with long-term care insurance coverage. You can speak with one of our licensed insurance agents by calling the number shown below.