Question: Do I need long-term care insurance?
It depends on your situation - your health, financial resources and arrangements for future care, for example. There may come a time when you need daily help with bathing, dressing and preparing meals. Or, you may even need long-term, round-the-clock assistance. Such care can put a serious financial strain on you and your loved ones.
Unlike Medicare, long-term care insurance covers custodial care, and may cover home health care, adult day care, nursing home care, the cost of an assisted living facility and respite care. Medicare covers nursing facility and home health care but only if it is skilled care, medically necessary and for a limited period of time. Before investing in long term care insurance, consider your circumstances carefully and seek free counseling from the State Health Insurance Assistance Program (SHIP) Hotline (800) 432-4040, or you can also visit the Arizona Long Term Care System (ALTCS) on-line for more information.
October 06, 2006