Long-Term Care

The decision to purchase Long-Term Care insurance is a big one with definite financial consequences, both in terms of premiums and future personal care.

Request More Information

As people age or become ill, they sometimes need help doing daily tasks like getting dressed, bathing and more. Long-term care (LTC) provides people with those services—but it’s expensive.

Long Term Care is the type of care received either at home or in a facility, when someone needs assistance with activities of daily living, such as bathing and dressing due to an accident, an illness or advancing age. Rising life expectancy means that the potential need for “long-term care” grows with every passing year of your life.

The likelihood is that you or a member of your family will need long-term assistance due to a prolonged illness, a disability, or general deterioration of your health and ability to perform routine daily activities.

Most long-term care expenses are not covered by Social Security or Medicare, Medicare Supplement (“Medigap”), or private health insurance. Medicaid pays for nearly half of all nursing home care, but you must meet federal poverty guidelines and may have to “spend down” most of your assets on health care.

Long-Term Care Options

 

Long-Term Care Insurance

Long-term care insurance (LTCI) helps pay for services that people with chronic illnesses or disabilities need over the long term. These services can include nursing home care, home health care, and personal care.

Hybrid Life with LTC Benefits

Hybrid life with long-term care insurance is a policy that combines life insurance with long-term care insurance. It provides benefits while you're alive and a death benefit to your beneficiaries.

 

Annuities with LTC Riders

An annuity with a long-term care rider is a financial product that combines an annuity with insurance to help pay for long-term care.

Veterans Benefits for Long-Term Care

Veterans may qualify for long-term care benefits through the VA, primarily through the "Aid and Attendance" benefit, which provides supplemental income to veterans who need help with daily activities like bathing, dressing, or eating, allowing them to receive care either at home or in a senior living facility; eligibility depends on their service-connected disability status, income, and need for assistance with daily living tasks.

Medicaid

Medicaid is for people with limited financial means. Medicaid Long Term Care can help people pay for long-term care services, such as nursing homes, assisted living, and home care.

 

Shaffer & Associates

309 S River St
Enterprise, OR 97828

 541-663-4096

  [email protected]

 Tuesday, Wednesday, and Thursday - 9:00am to 4:30pm
Monday and Friday - Home Visits and pre-arranged appointments