Do You Really Need
Long Term Care Insurance?

Should you develop a health condition that requires part- or full-time care, and your health insurance doesn’t cover the costs, how will you pay for what you need? Answer: Long Term Care Insurance (LTCi).

The U.S. Department of Health and Human Services reports that 69% of people will use long-term care (LTC) services at some point1. That care doesn’t come cheap: LTC costs range from $19,500 per year for daycare to $102,200 per year for a private room in a nursing home2.

  • LTCi protects your assets. Many people falsely believe that public health programs like Medicare or Medicaid will cover their LTC expenses. Medicare caps payments for skilled care at 100 days, and it only pays if certain requirements are met. Medicaid only kicks in after you spend down your assets. Private health insurance only pays for doctor and hospital bills. As a result, you must spend most of your own money to pay for care.
  • LTCi takes pressure off your family. Becoming a caregiver is physically, emotionally, and often financially burdensome so you shouldn’t rely on family members to handle this need. Many families are not able or willing to make such a huge sacrifice. This is especially true when the caregiver is a spouse or partner also facing aging health issues.
  • LTCi gives you care options. LTCi gives you the flexibility of choices when it comes to deciding where to receive care. Many facilities don’t accept Medicaid, leaving you at the mercy of their decisions on your care and at which facility you will reside. What’s more, Medicaid doesn’t pay for all (or even any) assisted living costs in many states.
  • LTCi may come with life insurance protection. Today, many LTCi policies are hybrid policies that bundle long-term care coverage with life insurance coverage. These hybrids offer your loved ones protection in the event you pass away, while also giving you the confidence of knowing that your LTC needs are covered.

As you age, the reasons for needing LTC increase; from living alone, to poor health, to chronic disabilities. With the right coverage, you’ll never have to wonder what would happen if you needed LTC or how that care would be paid for.

Give us a call today so we can talk through a better care option than burdening family members. You deserve peace of mind and we know how to help you achieve it.

[1] https://longtermcare.acl.gov/the-basics/how-much-care-will-you-need.html

Contact Us:

433 South Main Street, Suite 308
West Hartford, CT 06110


134 Main Street Extension, Suite A
Middletown, CT 06457


Email: info@ffncl.com
Phone: (860) 461-1709
Toll Free (877) 940-1009

Fax: (860) 904-6729

M-F: 8:30am-5:00pm
S-S: Closed

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