1 . Will Health or Disability Insurance Cover Long Term Care Costs?
Health plans may cover some of the skilled medical services you may need when you cannot care for yourself after an illness or injury, but usually for a limited period and only as long as you are showing improvement.
Health plans typically do not cover ongoing chronic care such as an extended stay in an assisted living facility or nursing home, or a continuing need for a home health aide to help you in and out of bed.
> What About Disability Income Insurance?
Disability income insurance is designed to replace a portion of the income you lose if you are unable to work due to accident or injury. It provides no additional benefits to specifically pay for long term care expenses.
2 . Will Medicare Cover Long Term Care Costs?
Generally, Medicare is available for people age 65 or older, younger people with disabilities, and people with end stage renal disease (permanent kidney failure requiring dialysis or transplant).
Medicare pays limited amounts for skilled care following a hospital stay; Medicare does not cover most long term care services which assist people with the activities of daily living over a long period of time.
Medicare will only cover the first 100 days of care in a nursing home per benefit period if you are receiving skilled care, and have a qualifying hospital stay of at least three days and enter the nursing home within 30 days of that hospital discharge.
There are also some deductibles and co-pays (meaning you have to pay part of the cost). In addition, Medicare covers limited home visits for skilled care and incidental homemaker services.
