What is LTC and LTCi?

Long term care (LTC) combines a broad range of ongoing care for people with:

  • Prolonged physical illnesses
  • Disabilities
  • Cognitive disorders (such as Alzheimer’s disease)

There are three generally recognized types of long term care:

  • Skilled Care is daily nursing and rehabilitative care under the supervision of skilled medical personnel such as registered nurses or professional therapists.
  • Intermediate Care is the same as skilled care, except it requires only intermittent or occasional nursing and rehabilitative care.
  • Custodial Care helps you perform activities of daily living, preferably at home. 95% of all nursing care is custodial.

A comprehensive long term care insurance program covers a broad range of services including:

  • Home health care
  • Personal care
  • Homemaker services
  • Respite care
  • Care in an assisted living facility
  • Nursing home care
  • A local residential care facility
  • Custodial care
  • Community-based care in an adult day care program
  • Hospice supplemental care

Long term care insurance (LTCi) provides coverage for potential long term care services and can protect financial assets. LTCi covers care generally not covered by health insurance, Medicare, or Medicaid.

Obtain long term care insurance as soon as possible to avoid high premiums. Many variables can raise your insurance premiums, such as:

  • Insurance rates generally increase with age.
  • Certain health conditions that occur later in life raise insurance premiums.