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Long Term Care Insurance: A Primer | Benjamin Katz
Long Term Care Insurance is on my Top 5 list of estate planning tools along with a Will or Trust, Power of Attorney, Health Care Proxy and Life Insurance. I wrote this article in an attempt to demystify this vital estate planning tool for clients and the public. What is it? Long-term care insurance (LTC or LTCI) is a type of insurance that helps to pay costs associated with long-term care. Long-term care insurance covers care which is generally not covered by private health insurance or Medicare. Do You Need it? Long-term care insurance becomes necessary when someone suffers an injury, illness or impairment that requires long term assistance with daily living. Although it may be utilized by people of all ages, long-term care is primarily an issue for people who are living longer and need help with everyday activities of daily living or who may require supervision due to severe cognitive impairment. According to the Kaiser Commission on Medicaid and the Uninsured (September