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Long Term Care Insurance

Long-Term Care Is More Than a Nursing Home

Long-Term Care (LTC) encompasses a variety of services that include the need for both medical and non-medical assistance (for example: home health aides, skilled nursing, physical/occupational/speech therapies). Typically, Long-Term Care is associated with any personal or medical assistance an individual may need to accomplish the Activities of Daily Living (ADLs). ADLs include bathing, dressing, continence, eating, toileting, transferring/moving oneself from sitting to standing, and getting in and out of bed. Anyone who needs assistance for at least two of these tasks is eligible for Long-Term Care. One may qualify for LTC due to the presence of cognitive limitations or impairments as well. 

LTC comes in many different forms to accommodate different levels of needed assistance. Long-Term Care Insurance is an extremely valuable tool to provide peace of mind for you and your loved ones. Unlike life insurance, which would provide a death benefit in the event of sudden death, Long-Term Care insurance is a great way to be able to maintain your independence in any setting without becoming a financial or emotional burden for your family. GE Insurance is licensed to assist clients residing in PA, NJ, DE, MD, NY, DC, SC, IL, and FL.

What Is Long-Term Care Insurance and How Does it Work? 

Long-Term Care Insurance is designed to cover the broad range of costs that arise with long-term care needs. People often associate LTC with nursing home costs, but if you prepare for these expenses with Long-Term Care Insurance, then you could have many more options. 

If you would like to stay in the comfort of your own home but need support to do so, the proper LTC coverage could help you to do this. If you consider moving into a different setting, such as a nursing home or assisted living facility, these are options where you could continue receiving long-term care as well. 

The bottom line is, LTC coverage can diminish the financial burden and emotional strain on your loved ones and keep you in the setting that you are most comfortable in with the necessary assistance. Long-Term Care Insurance works by reimbursing you the daily amount that you are paying for your services. 

While it is commonly used by older people with Medicare, long-term care benefits can aid anyone receiving long-term care to help with the costs that may not be covered by traditional health or disability insurance.      

Here’s a quick breakdown of the services available and their median annual cost, according to the 2016 Genworth Cost of Care Study:

Homemaker Services¹


Home Health Aide²


Adult Day Care¹


Assisted Living Facility³


Nursing Home Semi-Private Room


Nursing Home Private Room



¹ Based on 5 days per week by 52 weeks

² Based on 44 hours per week by 52 weeks

³ Based on 12 months of care, private, one bedroom

Based on 365 days of care

Other Impacts to Consider

When it comes to long-term care, it’s not just the financial responsibilities and burden you’ll need to consider; there are also other factors to take into account that can be just as impactful. Let’s take a look:

Impact on Caregivers’ Careers 

1 in 5 caregivers reported missing 10 or more hours of work per week

62% estimated they lost income as a result of caregiving.

70% had to miss time from work as a result of them providing care.

Impact on Caregivers’ Quality of Life

41% experienced negative side effects like depression.

53% reported they had experienced high stress levels.

48% said they had to reduce their quality of living to pay for care.

Financial Impact on Caregivers

63% had to use their own retirement funds and other savings to provide out-of-pocket assistance.

42% were required to reduce contributions to their own savings.

Beyond Dollars 2018 — Genworth.com

Learn More About Long-Term Care Insurance

GE Insurance is licensed in the District of Columbia and the following states:

  • Pennsylvania
  • New Jersey
  • Delaware
  • Maryland
  • New York
  • Washington, D.C.
  • South Carolina
  • Illinois
  • Florida

For more information on how I can help you prepare for the unexpected, please contact me today. 

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