LONG-TERM CARE INSURANCE

Take a moment to consider long-term care insurance. Why? Because the cost of long-term care, should you need it, can quickly deplete your life’s savings. Long-term care services are not just for older people. A young or middle-aged person who has been in an accident or suffered a debilitating illness may require these services as well.

Long-term care insurance pays for a wide range of services and procedures that typically are not covered by regular medical insurance. The types of care fall into three categories:

Skilled care: People with serious illnesses or injuries from which they will never recover will probably receive skilled care from nurses or professional therapists. Skilled care is provided daily, usually ordered by a physician, and involves a treatment plan.

Intermediate care: This type of care is the same as skilled care, but not provided on a daily basis. For instance, if you injured your leg and need to visit a physical therapist five times a week to help you heal, that is considered to be intermediate care.

Custodial care: Custodial care includes assistance with daily activities like bathing, eating, dressing, toileting, continence and transferring in and out of beds and chairs. Custodial care can range from in-home care provided two or three days a week, to 24-hour nursing home care.