What is long term care insurance used for

Long-term care insurance policies reimburse policyholders a daily amount (up to a pre-selected limit) for services to assist them with activities of daily living such as bathing, dressing, or eating. You can select a range of care options and benefits that allow you to get the services you need, where you need them.

What are the benefits of a long-term care plan?

Long-term care insurance provides coverage for the costs of long-term care associated with the activities of daily living, such as eating, bathing, dressing, and other needs. The need for long-term care may be due to a chronic illness or injuries that require extended rehabilitation and care.

What is the most common type of long-term care?

The most common type of long-term care is personal care—help with everyday activities, also called "activities of daily living." These activities include bathing, dressing, grooming, using the toilet, eating, and moving around—for example, getting out of bed and into a chair.

Who pays the most for long-term care insurance?

Medicaid is by far the largest payer of Long-Term Care costs in the US today. Most people find out quickly when they need care that the government is not going to pay their way until they have spent most of their assets.