Long-Term Care Insurance

What Is Long-Term Care?

Long-term care is the help you may need if you are unable to care for yourself because of a prolonged illness or disability.  People often think of long-term care as being given in a nursing home.  In fact, the term now refers to a whole variety of private and semi-private care situations and services, including in-home care, assisted living, adult residential care and nursing facilities. The trend is toward home health care options which provide the opportunity for a person to live comfortably in their preferred environment.

Is Long-Term Care Right for You?

As we plan for the future, some surprising facts need to be considered:

• 81% of American families have already faced a long-term care crisis or expect to face one in the near future.
  
• American women face a 50% greater likelihood than men of entering a nursing facility after age 65.
  
• For each person needing long-term care in a nursing facility, there are three persons being cared for in their own home.
  
• Today, one year of care in a nursing facility costs an average of $40,000 and the average cost of in-home care is $20,000 per year.

In a recent study, persons who had attended Long-Term Care Insurance seminars indicated their top two concerns are:

• "As I age, I fear becoming dependent on close family members and/or friends for my personal care."
  
• "If I ever need long-term care, I want the financial freedom to choose where and how I'll receive it."

What About Medicare and Medicaid?

It is a common misconception that Medicare and Medicaid will cover the costs of long-term care.  In reality, there are four basic ways that long-term care is paid in Kansas:

Medicaid
Private Pay
Medicare
Long-Term Care Insurance

In Kansas, Medicaid pays for over 55% of all nursing facility care.  Over 40% of all nursing facility expenses are paid out-of-pocket by individuals and their families.  Medicare may cover some long-term care costs, but that coverage is usually only for short periods of time.  The balance is paid by Long-Term Care Insurance.

Click here to request a quote for long-term care insurance.  You will be contacted by a long-term care representative within two business days.

Please note that this insurance product is:

• Not a deposit
• Not FDIC-insured
• Not insured by any federal government agency
• Not guaranteed by the bank