EARLY PHASE \\ LEGAL + FINANCIAL
PAYING FOR LONG-TERM CARE
L
ong-term care is a type of personal care service older adults may need if they become unable to care for themselves because of a prolonged physical illness, a disability or a cognitive impairment, such as Alzheimer’s disease. Long-term care can be expensive. Long-term care insurance is designed to cover medical and personal services in a number of settings such as your home, adult day care, skilled nursing facility or assisted living community. Most long-term care insurance policies are individual policies and can differ from one company to the next. According to medicare.org, long-term care may be divided into three levels: Skilled care is continuous “around-the-clock” care designed to treat a medical condition and performed by skilled medical personnel, such as registered nurses or professional therapists. Intermediate care is intermittent nursing and rehabilitative care provided by registered nurses, licensed practical nurses, and nurse’s aides under the • Medicaid supervision of a physician. • Medicare Custodial care is designed to assist with one’s activities of daily living (such • Long-term care insurance as bathing, eating and dressing). It can be • Long-term care provided by someone without professional riders attached medical skills but is supervised by a to a life insurance physician. policy or annuity Texas created the Long-Term Care • Accelerated death Partnership Program, which is a joint effort benefits from life insurance between private insurers and the state. For a list of companies participating in the • Personal cash or savings program visit: tdi.texas.gov/consumer
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Ways to Pay
