Long-Term Care Insurance Coverage
“In the next two decades, an aging population, fewer family caregivers, increasingly limited personal resources, and growing strains on federal, state, and family budgets will create an unsustainable demand for LTC (long-term care).” Source: Bipartisan Policy Center (2014).
Long-term care is a range of services to assist with the personal tasks of everyday life, sometimes called activities of daily living (assistance with eating, bathing, dressing, toileting, etc.), which can cost up to $50 per hour. In 2020 in Raleigh, NC, a semi-private room in a nursing home averaged $85,776, per year!
“Medicare doesn’t cover long-term care (also called custodial care), if that’s the only care you need. Most nursing home care is custodial care.” (Medicare.gov) Medicare and/or private health insurance typically only cover medical and hospital bills and not the long-term care services.