Studies have shown that 43% of those who turned age 65 in 1990 will enter a nursing home at some time during their life. Of those who live to age 65, nearly 1 in 3 will spend three months or more in a nursing home and 1 in 4 will spend one year or more in a nursing home. Only 1 in 11 will spend five years or more in a nursing home.

Women outnumber men in nursing homes according to studies. Thirteen percent of women as compared to 4% of men, were projected to spend five or more years in a nursing home. And obviously the risk of needing nursing home care increases with age.

After assessing the odds, consumers must stringently analyze the reasons for a policy and the ability to pay for it for the balance of a person's life. It makes no sense to buy a policy unless it can be paid every year until death. Far too many policies are cancelled by policyholders on fixed incomes as they grow older and their premiums increase accordingly.

Who will pay for Long Term Care? The answer is simple: it comes from your cash and your assets, your family's assets. For those without assets, it is paid by Medicaid programs administered by state government. More than half of nursing home bills are paid out-of-pocket by individuals and their families, and somewhat less than half are paid by state Medicaid programs.

Group insurance does not pay for most long-term care expenses, and Medicare does not offer long-term care as a benefit. Only in certain cases will Medicare cover the cost of some skilled nursing care in approved nursing homes or in your home, but there is no coverage for custodial or intermediate care or prolonged home health care.

Long Term Care Rate Request

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