PERSONAL SOLUTIONS
Long-Term Care
Plan ahead for extended care costs that health insurance and Medicare don't cover.
LONG-TERM CARE OVERVIEW
The coverage gap most healthcare professionals know about — and still don't plan for.
You've seen it in your patients: the gradual loss of independence that requires daily assistance. Health insurance doesn't cover it. Medicare covers only short-term skilled nursing after a qualifying hospital stay. Medicaid requires you to spend down virtually all your assets first. Long-term care insurance fills this gap.
In-home care
Coverage for aide services, skilled nursing, and therapy in your own home — preserving independence as long as possible.
Assisted living
Coverage for residential facilities when you need daily living support — beyond what Medicare covers.
Memory care
Specialized coverage for Alzheimer's and dementia care facilities, which typically run 20–30% above standard assisted living rates.
Hybrid policies
Life insurance and long-term care combined — benefits pay either way, eliminating the 'use it or lose it' risk.
COVERAGE OPTIONS
Long-Term Care Options
The main types of long-term care coverage we help clients navigate.
Comprehensive
Covers all care settings — nursing home, assisted living, home care, and adult day care. The broadest and most common policy type.
Home Care Only
Coverage limited to in-home care services — personal aides, skilled nursing, and therapy at home. Lower premiums but more restrictive.
Facility Only
Covers nursing home and assisted living facility costs only — no home health benefits. Lowest premiums but least flexible.
Hybrid (Life + LTC)
Combines life insurance with long-term care benefits. If you need care, LTC benefits pay. If you don't, your beneficiaries receive a death benefit.
OUR PARTNERS
We work with trusted long-term care carriers.
WHAT YOU NEED TO KNOW
What LTC Insurance Covers — and What Medicare Doesn't
What LTC Insurance Covers
- Nursing home / skilled nursing facility care
- Assisted living facility costs
- Home health aide services (bathing, dressing, meal prep, medication reminders)
- Adult day care programs
- Hospice care
- Care coordination services
- Some policies: home modifications (ramps, grab bars, widened doorways)
What Medicare / Health Insurance Does NOT Cover
- Long-term custodial care (non-skilled daily assistance)
- Assisted living facility costs
- Home health aides for daily living activities
- Nursing home stays beyond 100 days (and only after a qualifying hospital stay)
- Care needed solely because you can't live independently
- Most home modifications
- Adult day care for non-medical supervision
KEY CONSIDERATIONS
What to Think About When Buying Long-Term Care Insurance
01
Buy in your 50s, not your 70s
The optimal purchase window is age 50–60. Premiums are 2–3x higher at 65 than at 55, and health conditions that develop after 60 can make you uninsurable.
02
Consider hybrid policies
Traditional LTC policies are use-it-or-lose-it. Hybrid policies combine life insurance or an annuity with LTC benefits — if you never need care, your beneficiaries receive a death benefit.
03
Understand what triggers benefits
Most policies require inability to perform 2 of 6 Activities of Daily Living (bathing, dressing, eating, toileting, transferring, continence) or a cognitive impairment.
04
Coordinate with your family plan
LTC planning affects your spouse, children, and estate. A $300/day nursing home benefit for 3 years protects roughly $330,000 in assets. We help you decide how much based on your net worth and family situation.
COST CONTEXT
What Long-Term Care Insurance Actually Costs
Traditional LTC for a healthy 55-year-old runs $2,000–4,000/year. Hybrid policies (life + LTC) cost $5,000–15,000/year or a single lump-sum premium. In New York, a private nursing home room averages $150K–$180K/year — the insurance premium is a fraction of the risk it covers.
What Drives Your Premium
Age at purchase, benefit amount per day, benefit period (3 years vs. 5 years vs. unlimited), elimination period, and inflation protection. Adding a 3% compound inflation rider increases premiums but protects your benefit against rising care costs.
The Self-Insurance Question
If your investable assets exceed $1–2 million and you're willing to earmark a significant portion for potential care costs, self-insuring is an option. Most professionals find a $200–$400/month LTC premium is better than setting aside $500K+ that may or may not be needed.
FAQ
You've Got Questions. We've Got Answers.
Common questions about long-term care for healthcare professionals.
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Your Coverage Should Work as Hard as You Do
Let's review what you have and make sure it actually protects what matters most.