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Long-Term Care Insurance A New Offering for NHBA Members
Why long-term care coverage? Why now? Long-term care planning is important because as the countrys population continues to grow older, the cost of care is escalating and health insurance and Medicare cover few long-term care costs. Some predict that long-term care issues will eventually affect 80 percent of all families, but only 15 percent of those families will be able to pay for such services. Long-term care is care for chronic (as opposed to acute) conditions. It usually includes assistance with daily living activities. It can also range from help at home to skilled care in a nursing home. As Medicare does not cover long-term care in a nursing home, the bottom line is that most long-term care expenses will be paid from your funds, long-term care insurance, or Medicaid for those with limited resources. Obtaining long-term care insurance can help you take control of your own care and decide between home health care and staying in a nursing home. It will also protect your assets from having to be spent down to achieve Medicaid eligibility. Find out more about long-term care insurance. For additional information on this coverage, or if you have other insurance questions, contact Suzanne Morand of the NHBA Insurance Agency at the Bar Center at 224-6942 or at smorand@nhbar.org. |
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