Long-term (or custodial) care and home health care are the fastest growing segments of the healthcare industry - but they are NOT covered by Medicare.

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If Medicare Won't Pay for Long-Term Care, What Should I Do?

Long-term care can be tremendously expensive, and unfortunately, your options for covering it are limited. 

Long-term nursing care can be very expensive – depending on where you live, costs can range between $60,000 and $200,000 per year. Yet most people don’t plan for the expense, and report that they hope not to need insurance to help pay for care in their later years. That’s probably wishful thinking.

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According to the U.S. Department of Health and Human Services, roughly 70% of Americans over 65 will require some type of long-term care.

Long-term health insurance is a good idea to help protect against future health care costs that Medicare doesn’t pay for, such as extended home care, assisted living and nursing care. In a recent edition of the, ‘Medicare and You Guide’, it stated that, “….some insurance companies let you use your policy to pay for long-term care. Ask your insurance agent how this works. Also, you may choose to pay for long-term care through a trust or annuity”. Because typical LTC insurance plans have become so expensive certain companies have blended new products to give you long-term care benefits where you can be covered for an average of 5 years or more.

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Learn more about these programs; request a copy of our exclusive guide just click on the following below:

'3 Easy Ways to Qualify for State Approved No-Cost Long-term Care & Cancer Coverage'.

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*See Below: The Top 10 Reasons Why People Choose To Buy LTC Insurance

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1. Actuarial studies show that due to increasing advancements in Medical Science, which bring a longer life span, more than 70% of people over age 65 will need Long-Term Care services at some point in their lives according to a study by the U.S. Department of Health and Human Services.

2. I cannot depend on Medicare to cover my Long-Term Care expenses. Medicare covers less than 18% of all Long-Term Care expenditures.1

3. To protect my assets I have worked for in my life. The national average for an Assisted Living Facility in 2014 was $50,944.44 annually and for a Semi-Private Nursing Home Room cost an average of $85,048.65 annually.2

4. To preserve my estate for my family. Most people would rather leave their estate to their family or charity, rather than spend it on the escalating costs of Long-Term Care.

5. To have the opportunity to have Home Health Care or select the Nursing Facility of my choice. Once a person enters a facility, completes their asset “spend-down” and eventually goes on Medicaid, the Government decides which facility and location that individual can receive benefits.

6. So I do not have to go on Medicaid. Medicaid has evolved to become our nation’s primary payer for long-term services and supports, financing nearly half, 43% of all spending on long-term care services.3

7. Because I am healthy and I can qualify now. Many of the people who are seeking protection, cannot qualify for LTC coverage because of health related problems.

8. Because at my age, Long-Term Care coverage is less expensive than it will cost at my next birthday. The younger you are when you enroll, the lower the premiums are for LTC protection for the rest of your life.

9. To provide security and peace of mind, so I don’t have to worry about coverage if I were to need it. Many seniors spend years worrying about LTC protection and what will happen when they need it.

10. So my children will not be burdened with me, or my care, if I were to need Long-Term Care. Many people are living in the homes of their children because they cannot afford the cost of Home Health Care or a quality LTC facility.

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1“Long-Term Care—an Essential Element to the Health Care Reform”. Avalere Health LLC, The SCAN Foundation. 2008.
2Mutual of Omaha’s Cost-of-Care Study. Conducted by LTCG, 2014. Released June 2015
3Kaiser Commission on Medicaid and the Uninsured. “Medicaid and Long-Term Care Services and Supports, Fact Sheet”. 2011. Kaiser Family Foundation. Publication #2186-07. Retreived from Kaiser Family Foundation website: www.kff.org/medicaid/2186.cfm.