Marketplace

Long Term Care

LTC policies provide a daily benefit amount, for example $200 a day, if you are not able to care for yourself. Most policies will begin paying a benefit when you are not able to manage the normal activities of daily living (ADL) such as eating, bathing, dressing, transferring, cognitive impairment, etc. Depending on the policy, the inability to perform one or more of these ADL’s will trigger benefits. Each policy will specify which services are be covered, for example, nursing home care, assisted living, in-home care, adult day care, etc. Finally, employees will need to medically qualify for benefits.

Employer sponsored plans are often more affordable than individual plans and are usually portable, meaning the employee may continue their policy when they leave employment.