Medicare and Long-Term Care

Many seniors require long-term care services when they can no longer care for themselves. To ensure you receive the medical care you might require, both now and down the road, initiating plans for long-term care is crucial.

How to Get Long-Term Care Coverage

Long-term care consists of various services and assistance facilitating your ability to carry out daily tasks. These services can be administered in multiple environments, such as your home, nursing homes, assisted living facilities or other specialized settings. The care provided may encompass medical treatment, therapy, around-the-clock supervision and assistance with personal tasks.

Medicare, Medicare supplement insurance (Medigap) and health insurance plans generally exclude coverage for long-term care services. Funding for these services can come through Medicaid eligibility, or you can purchase long-term care insurance privately.

Long-Term Care Services Covered by Medicare

With Original Medicare, you pay 100% of noncovered medical services, including most long-term care services, even when medically necessary.

Medicare Part A helps cover hospital insurance and may also help cover necessary medical care in a long-term care setting. Long-term care hospitals usually provide medical care to people with multiple severe medical conditions who need a stay of more than 25 days.

The person receiving care covered by Medicare may have to pay the deductible and copayments during a benefit period.

How to Get Long-Term Care Insurance

Many companies offer long-term care insurance, but premiums and coverage can differ widely. Collect quotes from multiple insurance providers to compare features, costs and benefits. Your agent can help you compare policies.

They can offer expert advice tailored to your financial situation and needs. They can also explain the complicated terms and conditions, making it easier for you to understand what you’re purchasing.

Long-term care insurance policies can often be customized to fit your requirements. Elements such as the waiting time before benefits kick in, benefit period, daily benefit amount and optional riders (e.g., inflation protection) can be adjusted to fit your needs and budget.

Contact Us

If you’re considering this type of insurance, start the process sooner rather than later, as premiums generally increase with age, and pre-existing conditions may limit your options.

Contact Medicare Line in Colorado Springs, Colorado, to learn about your long-term care insurance options.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.