Long Term Care

If you have been refused coverage in the past for a long term policy there are now many new options to help provide you care. These are vastly different than what was offered not that long ago and was both costly and difficult to obtain. What many people don't initially know about long term care is that it comes in many plans and varieties. Strategic planning now can potentially allow you to more than double the amount of savings you currently have now or get it all back with interest if it were not to be used towards a long term care policy.The new types of policies that are available for Long Term Care can significantly optimize your savings, gifting and more in most circumstances. These circumstances vary greatly from state to state but can be a significant boost to your assets if used or not. There are far to many different variables to explain here with these policies and obtaining coverage. The best steps to take would be scheduling an appointment with one of the long term care experts here at The 401k Man.

Long-term care (LTC) insurance is a specialized type of insurance designed to cover the costs of long-term care services, which are typically not covered by regular health insurance, Medicare, or Medicare Supplement plans. As people age, the likelihood of needing assistance with daily activities increases, and the costs associated with such care can be astronomical, potentially depleting savings and assets. Long-term care insurance aims to provide financial protection and peace of mind by covering these significant expenses, allowing individuals to maintain their independence and choose the type and setting of care they prefer.

1. What is Long-Term Care Insurance?

Definition and Purpose: Long-term care insurance is a policy that helps pay for the costs of care when you can no longer perform everyday activities on your own due to a chronic illness, disability, or cognitive impairment like Alzheimer's disease. Unlike traditional health insurance, which focuses on acute medical conditions, LTC insurance is designed for ongoing assistance with personal care. Its primary purpose is to protect an individual's assets from the high costs of extended care and to provide flexibility in choosing care settings and services.

Why it's Important (Aging Population, Rising Costs of Care): The importance of long-term care insurance is growing significantly due to several demographic and economic trends:

• Aging Population: The baby boomer generation is reaching retirement age, leading to a dramatic increase in the number of older adults. As people live longer, the probability of needing long-term care services increases. The U.S. is projected to have over 20% of its population aged 65 and older within the next five years.

• Rising Costs of Care: The cost of long-term care has been steadily increasing and varies significantly by location and type of care. For example, in 2024, the average annual cost for a private room in a nursing home can be well over $100,000, while assisted living facilities and home health care also carry substantial costs. These expenses can quickly erode retirement savings and assets, leaving little for heirs or other family needs.

• Limited Government Coverage: Medicare only covers short-term skilled nursing care or home health care under very specific conditions, not ongoing custodial care. Medicaid, while it does cover long-term care, is a means-tested program, meaning individuals typically must "spend down" most of their assets to qualify, potentially leaving them with very little.

Who Needs It? While long-term care insurance isn't suitable for everyone, it is generally considered by individuals who:

• Have significant assets they wish to protect from care costs.

• Want to maintain control over their care choices rather than relying on government programs.

• Do not want to burden family members with caregiving responsibilities or the financial strain of care.

• Are in good health and can afford the premiums, as health status significantly impacts eligibility and cost.

2. Types of Long-Term Care and Where it's Provided

Long-term care encompasses a wide range of services designed to help individuals with their daily living needs. These services are often categorized by the level of assistance required and the setting in which they are provided.

Activities of Daily Living (ADLs) and Instrumental Activities of Daily Living (IADLs): The need for long-term care is typically triggered by an inability to perform a certain number of ADLs or IADLs.

• Activities of Daily Living (ADLs): These are fundamental self-care tasks crucial for independent living. They include:

  • Bathing

  • Dressing

  • Eating

  • Toileting

  • Continence

  • Transferring (moving in and out of a bed or chair)

• Instrumental Activities of Daily Living (IADLs): These are more complex activities that are important for maintaining independence but are not necessary for fundamental functioning. They include:

  • Managing finances

  • Managing medications

  • Preparing meals

  • Shopping for groceries

  • Housework

  • Using transportation

Where Long-Term Care is Provided:

• Home Health Care: Many people prefer to receive care in the comfort of their own homes. Home health care services can include:

  • Skilled Care: Administered by licensed medical professionals (nurses, therapists) for medical needs.

  • Custodial Care: Provided by home health aides for assistance with ADLs and IADLs, such as bathing, dressing, meal preparation, and light housekeeping.

• Assisted Living Facilities: These facilities provide a residential setting for individuals who need help with ADLs but do not require the intensive medical care of a nursing home. They typically offer private or semi-private rooms, meals, social activities, and 24-hour supervision.

• Nursing Homes (Skilled Nursing Facilities): Nursing homes provide 24/7 skilled nursing care and supervision for individuals with complex medical conditions or severe functional limitations. They offer a high level of medical and personal care.

• Adult Day Care: These programs provide supervised care, social activities, meals, and health services during the day, allowing caregivers to work or take a break. Individuals typically return home in the evenings.

• Hospice Care: While not exclusively long-term care, hospice services provide palliative care and support for terminally ill individuals and their families, often delivered in the home or a dedicated facility.

• Continuing Care Retirement Communities (CCRCs): These communities offer a range of living options and care levels, from independent living to assisted living and skilled nursing care, all within one campus. This allows residents to transition to higher levels of care as their needs change without having to move to a different facility.

3. How Long-Term Care Insurance Works

Understanding the mechanics of long-term care insurance is crucial for selecting the right policy. Key components include benefit triggers, elimination periods, benefit amounts, and inflation protection.

Benefit Triggers: For a policy to pay benefits, certain conditions, known as benefit triggers, must be met. Most policies require that a licensed healthcare professional certify that the insured:

• Is unable to perform at least two out of six ADLs (bathing, dressing, eating, transferring, toileting, continence) without substantial assistance for a period of at least 90 days.

• Has a severe cognitive impairment (such as Alzheimer's disease or dementia) that requires substantial supervision to protect the individual from threats to health and safety.

Elimination Period (Waiting Period): Similar to a deductible, the elimination period is the amount of time you must pay for your own care expenses before the insurance policy begins to pay benefits. Common elimination periods range from 0, 30, 60, 90, or 180 days. A longer elimination period typically results in lower premiums, but it means you will be responsible for a greater initial out-of-pocket cost.

Daily/Monthly Benefit Amount: This is the maximum amount the policy will pay for eligible long-term care services on a daily or monthly basis. You choose this amount when you purchase the policy. It's important to research the average cost of care in your geographic area to select a benefit amount that will adequately cover potential expenses. A higher daily or monthly benefit will lead to a higher premium.

Benefit Period (How Long Benefits are Paid): The benefit period defines the total length of time the policy will pay benefits. Common benefit periods range from 2 to 5 years, with some policies offering lifetime coverage. The longer the benefit period, the higher the premium. When choosing a benefit period, consider statistics on the average length of stay in long-term care facilities (often cited as 2-3 years for nursing homes).

Inflation Protection: Given the rising costs of long-term care, inflation protection is a critical feature, especially if you purchase a policy at a younger age. This option increases your daily or monthly benefit amount over time to keep pace with inflation. There are generally two types:

• Simple Inflation: Your benefit increases by a fixed percentage (e.g., 5%) of the original daily benefit amount each year.

• Compound Inflation: Your benefit increases by a fixed percentage (e.g., 5%) of the previous year's benefit amount each year. Compound inflation offers more robust protection against rising costs but also comes with higher premiums. For younger policyholders, compound inflation protection is often recommended.

4. Cost of Long-Term Care Insurance

The cost of long-term care insurance premiums can vary widely based on several factors, making it essential to understand what influences pricing.

Factors Affecting Premiums:

• Age at Time of Purchase: This is one of the most significant factors. The younger you are when you purchase a policy, the lower your premiums will generally be. Premiums increase substantially with age because the likelihood of needing care increases. Many experts suggest buying in your mid-50s to early 60s for the best balance of cost and health eligibility.

• Health Status and Medical History: Insurers conduct medical underwriting to assess your health. If you have pre-existing conditions or are in poor health, you may face higher premiums, limited coverage, or even be denied a policy. Good health leads to lower rates.

• Gender: Historically, women have paid higher premiums than men because, on average, they live longer and are more likely to need long-term care for an extended period. However, some states have regulations that prohibit gender-based pricing.

• Marital Status: Many insurers offer discounts for married couples or partners who purchase policies together.

• Coverage Amount and Duration: Higher daily/monthly benefit amounts and longer benefit periods (e.g., lifetime vs. 3 years) will result in higher premiums.

• Elimination Period: A shorter elimination period (e.g., 30 days) means you pay for care for less time out-of-pocket, but it also results in higher premiums compared to a longer elimination period (e.g., 90 or 180 days).

• Inflation Protection: Choosing inflation protection, especially compound inflation, will increase your premiums, but it's crucial for maintaining the purchasing power of your benefits over time.

• Optional Riders: Adding riders such as shared care benefits (for couples), return of premium, or nonforfeiture benefits (which protect a portion of your benefits if you stop paying premiums) will add to the overall cost.

• Location: The average cost of care varies by state and region, which can influence premium rates.

Average Costs: According to recent surveys, the average annual premium for a traditional long-term care insurance policy can range from under $1,000 to several thousand dollars, depending on the factors listed above. For instance, a 55-year-old male might pay around $1,000-$1,500 annually for a policy with a modest benefit, while a 55-year-old female might pay $1,500-$2,000 or more. These figures can significantly increase for older applicants or those seeking more comprehensive coverage.

Tax Deductibility of Premiums: Premiums paid for "tax-qualified" long-term care insurance policies may be tax-deductible as medical expenses, subject to certain limits based on age and adjusted gross income. The benefits received from a qualified policy are generally tax-free. It's advisable to consult with a tax professional for specific guidance.

5. Hybrid and Linked-Benefit Products

In response to concerns about traditional long-term care insurance (e.g., "use it or lose it" perceived drawback), hybrid policies, also known as linked-benefit products, have become increasingly popular. These policies combine long-term care coverage with another insurance product, most commonly life insurance or an annuity.

Life Insurance with Long-Term Care Riders: Many life insurance policies (whole life or universal life) now offer optional riders that allow you to access a portion of your policy's death benefit while you are still alive to pay for long-term care expenses.

• How it Works: If you need long-term care, the policy accelerates a portion of the death benefit to cover qualifying care costs. If you never need long-term care, or only use a portion of the long-term care benefit, your beneficiaries receive the remaining death benefit (or the full death benefit if no LTC funds were used).

• Advantages:

  • Guaranteed Payout: Eliminates the "use it or lose it" concern of traditional LTC policies, as there will always be a death benefit paid to your beneficiaries.

  • Fixed Premiums: Many hybrid policies offer guaranteed premiums, which can be a significant advantage compared to traditional policies that may experience rate increases over time.

  • Simpler Underwriting: Some hybrid policies may have more streamlined underwriting processes compared to traditional LTC insurance, making them accessible to a broader range of applicants.

• Disadvantages:

  • Less LTC Coverage: Often, the amount of long-term care coverage provided by a hybrid policy may be less comprehensive than a stand-alone traditional LTC policy for the same premium. The primary focus is still on the death benefit.

  • Impact on Death Benefit: Utilizing the long-term care benefit will reduce the death benefit paid to your beneficiaries.

Annuities with Long-Term Care Benefits: Certain annuities can also be structured to include long-term care benefits. These policies typically allow you to use your annuity's accumulated value or provide an enhanced benefit amount specifically for long-term care.

• How it Works: You fund the annuity with a single lump sum or a series of payments. If you need long-term care, you can draw from the annuity's value, often at a higher rate or with a multiplier, for qualifying care expenses. If you don't use the LTC benefits, the annuity can still provide a retirement income stream or be paid out to beneficiaries.

• Advantages:

  • Asset Repositioning: Can be funded with existing assets (e.g., CDs, savings accounts) rather than new out-of-pocket premiums, making it attractive for those with substantial savings.

  • Tax Efficiency: Qualified long-term care annuities can offer tax advantages, such as tax-free withdrawals for qualifying LTC expenses.

• Disadvantages:

  • Liquidity: The funds are typically locked up in the annuity, and early withdrawals for non-LTC purposes may incur surrender charges.

  • Less LTC Focused: Similar to life insurance hybrids, the primary purpose of the annuity is often retirement income, and the long-term care benefit may be less extensive than a dedicated LTC policy.

6. Pros and Cons of Long-Term Care Insurance

Deciding whether long-term care insurance is right for you involves weighing its potential benefits against its drawbacks.

Pros (Advantages):

• Financial Protection: The most significant advantage is protecting your personal savings, investments, and assets from the potentially devastating costs of long-term care. Without it, a prolonged need for care could wipe out an estate.

• Peace of Mind: Knowing that you have a plan in place for potential future care needs can provide immense peace of mind for both you and your family. It reduces the worry about how care will be paid for.

• Choice of Care: Having insurance allows you to choose the type of care (home health, assisted living, nursing home) and the specific facility or caregiver you prefer, rather than being limited by financial constraints or reliance on Medicaid.

• Relieves Burden on Family Members: LTC insurance can significantly reduce the emotional, physical, and financial burden on family members who might otherwise have to become primary caregivers or contribute to care costs.

• Potential Tax Advantages: As mentioned, premiums for qualified policies may be tax-deductible, and benefits received are generally tax-free.

• Inflation Protection: The option to add inflation protection ensures that your benefits maintain their purchasing power over time, keeping pace with rising care costs.

Cons (Disadvantages):

• Cost (High Premiums): Long-term care insurance can be expensive, especially if purchased at an older age or with comprehensive benefits. Premiums can be a significant ongoing expense for many years.

• Potential for Non-Use: If you pay premiums for many years and never need long-term care, you might feel like the money was "wasted" (though peace of mind is a valuable, intangible benefit). Traditional policies typically don't return premiums if benefits are not used.

• Rising Premiums (for Traditional Policies): While initial premiums might be affordable, traditional long-term care insurance policies are not guaranteed to have level premiums. Insurers can, with state approval, raise premiums for a group of policyholders, sometimes leading to significant rate hikes. Hybrid policies often offer guaranteed premiums.

• Complexity and Underwriting: Policies can be complex with various riders, benefit periods, and elimination periods to understand. The underwriting process can also be rigorous, and individuals with certain health conditions may find it difficult or impossible to qualify.

• Policy Limitations: Policies have caps on daily/monthly benefits and benefit periods, meaning they may not cover 100% of costs or for an indefinite period. It's crucial to understand what is and isn't covered.

• Opportunity Cost: The money spent on premiums could have been invested elsewhere, potentially yielding higher returns, though without the specific protection against long-term care costs.

7. Alternatives to Long-Term Care Insurance

For individuals who find long-term care insurance unsuitable or unaffordable, several alternatives exist, each with its own advantages and limitations.

• Self-Funding (Personal Savings and Investments):

  • How it Works: You rely on your accumulated savings, investments, pensions, and other financial assets to pay for long-term care costs out-of-pocket.

  • Advantages: Complete control over your money; no premiums to pay; no "use it or lose it" concern.

  • Disadvantages: Requires substantial wealth to cover potentially very high and long-lasting costs; exposes your assets to significant depletion; unforeseen care needs could exhaust your funds quickly.

• Medicaid:

  • How it Works: Medicaid is a joint federal and state program that provides health coverage to low-income individuals. It is the largest single payer of long-term care services in the U.S., but primarily for those who meet strict income and asset limits.

  • Advantages: Covers a broad range of long-term care services, including nursing home care and some home- and community-based services, for eligible individuals.

  • Disadvantages: Means-Tested: To qualify, individuals must "spend down" most of their assets (except for certain exempt assets like a primary residence, though often subject to estate recovery); limited choice of care providers and settings (many facilities do not accept Medicaid, or only have limited Medicaid beds); asset protection planning for Medicaid can be complex and requires careful timing.

• Veterans' Benefits:

  • How it Works: The U.S. Department of Veterans Affairs (VA) offers a range of long-term care services to eligible veterans, including nursing home care, assisted living, and home health care. Programs like Aid & Attendance can provide additional financial assistance.

  • Advantages: Can be a significant source of funding for veterans and their spouses who meet service requirements and medical/financial criteria.

  • Disadvantages: Eligibility rules can be complex and specific; benefits may not cover all costs; care options might be limited to VA-approved facilities.

• Family Caregiving:

  • How it Works: Family members (spouses, children, relatives) provide unpaid care for their loved ones.

  • Advantages: Keeps care within the family, potentially more personalized; can preserve financial resources.

  • Disadvantages: Places significant physical, emotional, and financial strain on caregivers; caregivers may have to reduce work hours or give up careers; may not be sustainable for prolonged or high-acuity care needs; not all family members are willing or able to provide care.

• Life Insurance with Accelerated Death Benefits/LTC Riders:

  • As discussed in Section 5, these hybrid policies allow you to access a portion of your life insurance death benefit while living for long-term care needs.

• Annuities with Long-Term Care Benefits:

  • Also discussed in Section 5, these products allow you to use your annuity's value or an enhanced benefit for long-term care.

• Reverse Mortgages:

  • How it Works: Homeowners aged 62 or older can convert a portion of their home equity into tax-free cash, which can be used to pay for care. The loan is repaid when the homeowner sells the home, moves out, or passes away.

  • Advantages: Allows homeowners to access home equity without selling their home; can provide a significant lump sum or stream of income.

  • Disadvantages: Reduces home equity; interest accrues on the loan; can be complex and may not be suitable for all homeowners.

• Short-Term Care Insurance:

  • How it Works: A less expensive alternative to traditional LTC insurance, designed to cover care for a shorter duration, typically up to one year.

  • Advantages: More affordable premiums; less stringent underwriting; can cover the elimination period of a traditional LTC policy.

  • Disadvantages: Limited benefit period may not be sufficient for prolonged care needs; not available in all states.

8. Choosing a Long-Term Care Insurance Policy

Selecting the right long-term care insurance policy requires careful consideration of your individual needs, financial situation, and preferences.

Key Features to Compare:

• Daily/Monthly Benefit Amount: Ensure the amount is adequate to cover local care costs, considering potential future inflation.

• Benefit Period: Choose a period that aligns with your risk tolerance and financial capacity. While lifetime coverage offers maximum protection, shorter periods (e.g., 3-5 years) are often more affordable and may cover the average length of care.

• Elimination Period: Select an elimination period (e.g., 30, 60, 90 days) that you can comfortably self-fund. A longer period means lower premiums.

• Inflation Protection: Strongly consider adding inflation protection, especially compound inflation, if you are purchasing the policy at a younger age. This is crucial for maintaining the value of your benefits over decades.

• Types of Care Covered: Verify that the policy covers the types of care you might prefer (e.g., home health care, assisted living, nursing home care). Most comprehensive policies cover a wide range of settings.

• Waiver of Premium: Look for a policy feature that waives your premiums once you begin receiving benefits, typically after the elimination period is met.

• Nonforfeiture Benefit: This optional rider ensures that if you stop paying premiums after a certain period, you will still receive some reduced benefits rather than losing all the money paid in premiums.

• Restoration of Benefits: Some policies offer a "restoration of benefits" feature, where if you recover and stop receiving care for a certain period, your full benefit pool may be restored.

• Shared Care Option (for Couples): If purchasing as a couple, a shared care rider allows either spouse to draw from a combined pool of benefits, which can be more flexible than individual policies.

Reputation of the Insurer: Choose an insurance company with a strong financial rating from independent agencies (e.g., A.M. Best, Standard & Poor's, Moody's). This indicates the insurer's financial stability and ability to pay claims in the long term. Also, research the company's customer service and claims-paying history.

Working with a Financial Advisor: A qualified financial advisor specializing in long-term care planning can be invaluable. They can:

• Help you assess your specific needs and financial situation.

• Compare policies from multiple insurers.

• Explain complex policy features and riders.

• Guide you through the application and underwriting process.

• Help you integrate long-term care planning into your broader financial and retirement strategy.

9. The Application Process and Underwriting

The application process for long-term care insurance is more detailed than for typical health insurance due to the long-term nature of the coverage and the significant financial commitment involved.

Steps in the Application Process:

1. Initial Discussion with an Agent/Advisor: You'll discuss your needs, financial situation, and preliminary health information to determine if LTC insurance is a good fit and to explore initial policy options.

2. Application Form Completion: You'll fill out a detailed application form, which will include personal information, medical history questions, and details about your current health status and lifestyle.

3. Medical Underwriting: This is a crucial phase where the insurance company assesses your health risk. The underwriting process typically involves:

   • Health Questionnaire/Interview: A telephone interview conducted by a nurse or paramedical professional, where you'll answer detailed questions about your medical history, current health conditions, medications, and ability to perform ADLs. Some companies may also include a cognitive assessment during this call.

   • Medical Records Review (APS): The insurer will request your medical records from your doctors and healthcare providers to verify the information you provided and to get a complete picture of your health.

   • Prescription Drug History (RX Check): Insurers will often review your prescription drug history to identify any underlying medical conditions.

   • Motor Vehicle Report (MVR): In some cases, insurers may review your MVR to assess lifestyle risks.

4. Underwriting Decision: Based on the collected information, the underwriter will make a decision:

   • Approval (Standard or Preferred Rates): You are approved for coverage, possibly at standard or preferred (lower) rates if you are in excellent health.

   • Approval with Modified Offer: You might be approved but with a higher premium due to certain health factors, or with specific exclusions.

   • Decline: Your application is denied due to health reasons (e.g., severe pre-existing conditions, advanced age with significant health impairments).

Importance of Honesty: It is paramount to be completely honest and accurate when providing information during the application and underwriting process. Misrepresentation can lead to policy rescission (cancellation) or denial of claims in the future.

Tips for a Smoother Process:

• Apply Early: The younger and healthier you are, the easier it is to qualify and the more affordable your premiums will be.

• Be Prepared: Have your medical history, physician contact information, and a list of medications readily available.

• Understand Questions: If you don't understand a question, ask for clarification.

• Review Records: Consider requesting your own medical records beforehand to ensure accuracy and be aware of anything that might be flagged by the insurer.

10. Future of Long-Term Care and Insurance

The long-term care landscape is constantly evolving, driven by demographic shifts, technological advancements, and changing consumer preferences so it is very important to reach out to us here at The401kman to learn more about the applicable policies and carriers available to you in your area.

Trends in Care:

• Aging in Place: A strong preference among seniors to remain in their homes as they age is driving demand for home-based care services, remote monitoring technologies, and home modifications.

• Technology Integration: Technology is playing an increasingly vital role in long-term care. This includes:

  • Telehealth and Remote Monitoring: Allowing healthcare providers to monitor patients remotely and conduct virtual consultations.

  • Wearable Devices: For tracking vital signs, activity levels, and detecting falls.

  • Smart Home Technology: Voice-activated assistants, automated systems for lighting and security, and medication reminders.

  • Robotics: Potentially assisting with tasks, companionship, and mobility.

  • AI and Data Analytics: For predicting care needs, optimizing care plans, and improving operational efficiency in facilities.

• Personalized Care: A shift towards more individualized care plans that cater to specific needs and preferences, moving away from a "one-size-fits-all" approach.

• Focus on Caregiver Support: Recognizing the crucial role of informal caregivers, there's a growing emphasis on providing support, resources, and respite services for family members.

• Value-Based Care: A move towards care models that emphasize quality outcomes and cost-effectiveness, rather than just the volume of services.

Policy Innovations in Long-Term Care Insurance:

• Continued Growth of Hybrid Products: Hybrid life insurance and annuity products with LTC benefits are likely to continue dominating the market, offering more attractive "use it or lose it" alternatives to traditional policies.

• Greater Flexibility: Policies are likely to become more flexible, offering a wider range of benefit options, payment structures, and potentially more personalized coverage to meet diverse consumer needs. This might include benefit flexibility for care settings and services.

• Simplified Underwriting: Some insurers may continue to explore simplified underwriting processes, especially for hybrid policies or for individuals meeting certain health criteria, to make policies more accessible.

• Focus on Wellness and Prevention: Insurers may explore integrating wellness programs or incentives into policies, encouraging policyholders to maintain good health to potentially delay or reduce the need for care.

• Group and Employer-Sponsored Plans: While not as widespread as health insurance, there may be increasing interest in group long-term care insurance programs offered through employers or associations.

Government Initiatives:

• State-Level Initiatives: Some states are exploring or implementing public programs or partnerships (e.g., state-sponsored long-term care trust funds) to help address the affordability and accessibility of long-term care. Washington State's WA Cares Fund is an example of a mandated long-term care insurance program.

• Federal Discussions: There are ongoing discussions at the federal level about potential solutions to the long-term care crisis, though a comprehensive national program has yet to emerge.

The future of long-term care insurance is likely to be characterized by a greater emphasis on consumer choice, technological integration to enhance care delivery and efficiency, and innovative product designs that address evolving financial and care needs. For individuals, staying informed about these trends and planning proactively will be key to navigating the complexities of long-term car

Short Term Care

70% of seniors will at some point need in home care or assistance. While many are self sufficient just one trip or fall can be devastating to a seniors independence. The worst effect of this is with no plan in place it effectively leaves the planning in another persons hands. We can help you avoid a nursing home confinement or extended stay with our available in home care plans. Even if you have been refused or cannot afford costly long term care coverage, there are now newer, better, more affordable options than those available in the past to help you with in home care. These plans are not insurance and far more affordable than most long term care insurance plans.

Our Long term care alternative plans can help you stay in your home after a hospital stay or help you stay in your home longer with help for household tasks and more. Home health care is a quickly growing alternative for those who want to stay in their homes. it will help with keeping you out of a nursing home and these plans can help reduce the expense and burden of long-term care on both you and your loved ones.

Long-term care alternative plans will pay for a caregiver to visit and provide you with assistance at home in the event you are unable to care for yourself because of a chronic condition or disability.

Strategic planning now can potentially keep you in your home for when you are not as able as you may currently be. These new types of policies which are available for Long Term Care can be prepaid or banked to prepare hours for you when you may need them in the future, after a fall. hospital stay or car breakdown. There are far to many different variables to explain here with these policies but we would be happy to answer your questions in a free 15 minute appointment. The best steps to take would be scheduling an appointment with one of the long term care experts here at The 401k Man using the consultation button below.

We have multiple levels of plans and solutions available individually and as couples. Call us at 877-775-0812 to request more information from our experts.