Long Term Care Insurance FAQs

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Q. Why should I purchase long term care insurance since I already have a Medicare supplement policy?

A. Medicare only pays for skilled nursing care. Medicare supplement insurance policies usually do not cover long term care costs.

Q. What are the levels of care provided by a long term care facility?

A. There are basically three levels of care: skilled, intermediate, and custodial

Q. What is the difference between long term care and nursing home insurance?

A. Long term care (LTC) policies pay for skilled, intermediate or custodial care in a nursing home for a minimum of 24 months. LTC policies also cover 12 months of lower level care, such as home health care or adult day care.
Nursing home policies can cover either nursing home care or a combination of nursing home care plus custodial care.

Q. How long is the "free look" period in a long term care policy?

A. Thirty days.

Please visit the NAIC (National Association of Insurance Commissioners) for additional information on Long Term Care Insurance.