mature couple sitting on bench looking at lake

When you’re planning for retirement, there’s a whole checklist of things to consider. One item you’ll want to include is planning for long-term care. The first step is knowing how supplemental long-term care insurance can be an important part of that plan.

What Is Considered Long-Term Care?

Long-term care is when you receive assistance with everyday tasks. Someone may require long-term care as a result of a chronic condition or injury. Care can be received at home, a day care facility, or a nursing facility. To receive benefits from a long-term care insurance policy, an individual must need help with at least two of the following “activities of daily living”: bathing, dressing, toileting, eating, mobility, or continence.

What Do Long-Term Care Insurance Plans Cover?

Supplemental long-term care plans cover services that health insurance plans do not. That means you’ll be able to use your benefits toward costs such as:

  • Skilled nursing care
  • Home healthcare
  • Adult daycare
  • Assisted living
  • Nursing home care

Some plans also cover “homemaker services,” which means that your plan may help cover housekeeping or meal preparation services.

Does Medicare Cover Long-Term Care

No, Medicare plans do not cover long-term care services that relate to the activities of daily living, also called “custodial care.” However, Medicare will cover certain aspects of the medical care that may be provided during a long-term care stay.

Does Medicaid Cover Long-Term Care?

Medicaid will cover long-term care in some qualifying scenarios. But details vary from state to state, so check with your state’s Medicaid program for information.

How Does Long-Term Care Insurance Work?

Long-term care insurance helps cover services whether you receive this care in a nursing home, assisted living facility, community-based setting, or in your own home. Here’s what you need to know about long-term care insurance to help you choose the right plan.

When should I purchase long-term care insurance? Your premium is likely to be lower the younger you are when you enroll. After age 60, premiums for long-term care insurance begin to rise.

How much coverage do I need? The amount of coverage depends on a variety of factors including your budget and health. But keep in mind that in 2020, assisted living costs averaged $51,600 a year, while a private room in a nursing home averaged $105,850 annually.1

What Determines Long-Term Care Insurance Costs?

There’s a lot that goes into crunching the numbers when it comes to long-term care insurance. The following factors often come into play when determining your coverage and premium costs.

  • Age. The younger you are when you enroll, the less your plan is likely to cost.
  • Benefit Amount. Both the amount of your daily benefit and your maximum benefit coverage will influence the cost of your policy.
  • Deductible. With long-term care insurance, your deductible specifies how long you’ll receive care before your coverage kicks in. The shorter your deductible period, the more your plan will cost.
  • Policy Riders“Riders” are optional additions to your insurance plan. Common rider options include accelerated benefits for inflation, reimbursement, and indemnity.

HealthMarkets Can Help You Find a Long-Term Care Insurance Plan

You don’t have to face long-term care insurance decisions alone. Licensed insurance agents are here to help assess your needs and find the policy that’s right for you, at no cost to you. Give us a call at (800) 642-0607 so we can get started, or search for an agent in your area to set up a meeting today.



1. Genworth. February 12, 2021. Retrieved from

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