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Long Term Care Plans

Insurance that helps you pay for long term care when you need it.

As you plan for the future, consider how your independence and hard-earned savings will be affected by a long-term illness or a chronic condition requiring extended care. Long term care insurance is an important layer that helps protect your assets and gives you more choice and control when you need long term care.

Long-term care (LTC) needs typically arise as part of the normal aging process, but can also be due to an injury or illness, such as multiple sclerosis, stroke, rheumatoid arthritis, or due to a cognitive impairment, such as Alzheimer’s disease. Long-term care services can be given at an assisted living facility, a nursing home or even at home.

When reviewing your LTC insurance options, you’ll need to consider:

  • Total coverage needs — Your total coverage is calculated based on the benefit amount and the benefit period you choose.
  • Benefit Amount — Maximum amount that your policy provides to cover your care costs on a daily or monthly basis.
  • Benefit Period — Minimum period of time (years) you can expect your coverage to last.
  • Elimination Period — Similar to a deductible, the amount of time (days) you are required to pay for the cost of care before your policy begins to pay benefits for an eligible claim.
  • Inflation Protection – Helps your benefits grow over time to keep up with the rising cost of care.
  • Total Benefit Amount– Total pool of money from which your benefits are paid.

When you are ready to begin the planning process, HealthMarkets can help you review your plan options from trusted, highly-rated carriers that meet your specific needs and budget.