It depends on the policy. Long-term care insurance (LTCI) policies define three levels of long-term care. Because some LTCI policies pay for only certain forms of care, it’s important to understand these definitions:
Skilled Care
Continuous round-the-clock care designed to treat a medical condition; it’s ordered by a doctor and administered by skilled medical workers (e.g., registered nurses, professional therapists) as part of an established treatment plan
Intermediate Care
Intermittent nursing and rehabilitative care provided by registered nurses, licensed practical nurses, and nurse’s aides under a doctor’s supervision
Custodial Care
Care designed to help the patient perform activities of daily living, such as bathing, dressing, or eating; it can be provided by someone without professional medical skills, but it’s supervised by a doctor
Most LTCI policies cover skilled, intermediate, and custodial care in licensed nursing homes. Some of these policies may limit or exclude additional settings for long-term care (e.g., home health care, assisted-living facilities). To find out what type of care your LTCI policy covers and what facilities are approved to provide the care, be sure to read your policy carefully. If you have questions, contact the experts at Henssler Financial:
- Experts Request Form
- Email: experts@henssler.com
- Phone: 770-429-9166
Disclosures: The following information is reprinted with permission from Forefield, a division of Broadridge Financial Solutions, Inc. This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently be traded by Henssler Financial. All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes only. Information provided should not be the sole basis in making any decisions and is not intended to replace the advice of a qualified professional, such as a tax consultant, insurance adviser or attorney. Although this material is designed to provide accurate and authoritative information with respect to the subject matter, it may not apply in all situations. Readers are urged to consult with their adviser concerning specific situations and questions. This is not to be construed as an offer to buy or sell any financial instruments. It is not our intention to state, indicate or imply in any manner that current or past results are indicative of future profitability or expectations. As with all investments, there are associated inherent risks. Please obtain and review all financial material carefully before investing. Henssler is not licensed to offer or sell insurance products, and this overview is not to be construed as an offer to purchase any insurance products.
