Long Term Care Insurance

• Check Your Current Insurance Coverage
  Your current health insurance policy may pay for some of your expenses, but most likely not all in the event that you are hospitalized for a long period of time or need long term nursing. Medicare, Medicare supplements, or HMO will provide little if any coverage for long-term care. Go over your policy with your health insurance agent to better understand what is covered and what is not.
  Can you pay for long term care out of pocket? 
  If you don't have coverage for long-term care or prefer to pay out of your own resources, do you know if you would be able to cover all the costs?? Consider your financial situation and how whether you can use them to pay for long-term care.
  
  
• Check into Future Insurance or Benefits You Expect or May Qualify for in Retirement
  It is important to know and understand what your future benefits will cover, if you are not yet retired. If you only have Medicare, even with a Medicare supplemental plan, most of your long-term care services may not be covered. If you have limited resources, now or in the future, You may also check to see if Medicaid may pay for your services.
  
  
• Find Out What Other Resources Can Help Cover Long-Term Care Expenses
  Most people currently don't have coverage or do not have enough money saved to pay for all their long-term care needs, particularly if service needs are extensive or last a long time. There are an increasing number of private payment options available for this purpose. Two of the more common options are long-term care insurance and reverse mortgages. Look over these options carefully to make sure that you understand all the details, eligibility requirements, and costs.