Need for Long Term Care - ANSWER -Increased life expectancy in the U.S.
-Persons unable to perform two or more activities of daily living or loss of cognitive capabil-
ity
-Major coverage gap in Medicare ( medicare only provides LTC coverage for 100 days)
-High cost of Nursing Home/Home Health Care
Paying for Long Term Care - ANSWER -Medicare limit is 100 days for LTC (skilled nursing)
-Medicaid covers only those with minimal assets
-ACA health insurance provides reimbursement primarily for acute and rehabilitative care
and not for LTC
-Only 5% of seniors have LTC insurance
Most seniors will pay LTC out-of-pocket
Long Term Care Policy Type - ANSWER -Nursing Home or Assisted Living
-Home Health Care
-Comprehensive (Best Option)
(Policyholder Choice - Nursing Facility or Home Care)
Long Term Care - Benefit Triggers - ANSWER -Inability to perform at least two Activities of
Daily Living (ADLs)
-Loss of Cognitive capability
Daily Benefit Amount - ANSWER Daily Benefit Limit such as $175 per day
1
-Persons unable to perform two or more activities of daily living or loss of cognitive capabil-
ity
-Major coverage gap in Medicare ( medicare only provides LTC coverage for 100 days)
-High cost of Nursing Home/Home Health Care
Paying for Long Term Care - ANSWER -Medicare limit is 100 days for LTC (skilled nursing)
-Medicaid covers only those with minimal assets
-ACA health insurance provides reimbursement primarily for acute and rehabilitative care
and not for LTC
-Only 5% of seniors have LTC insurance
Most seniors will pay LTC out-of-pocket
Long Term Care Policy Type - ANSWER -Nursing Home or Assisted Living
-Home Health Care
-Comprehensive (Best Option)
(Policyholder Choice - Nursing Facility or Home Care)
Long Term Care - Benefit Triggers - ANSWER -Inability to perform at least two Activities of
Daily Living (ADLs)
-Loss of Cognitive capability
Daily Benefit Amount - ANSWER Daily Benefit Limit such as $175 per day
1
