While they provide many needed services, you might expect your Medicare supplement plan or managed care plan to provide coverage for long-term care, but they don’t. Long-term care is the range of medical and social services provided to people with chronic or prolonged illnesses, disabilities or cognitive impairments. People often think of long-term care as strictly nursing home care.
The term actually refers to a variety of care situations and services:
• Nursing home care
• Assisted living
• Home health care
• Continuing care retirement communities
• Hospice care
• Physical therapy
• And more.
Thankfully, there are insurance policies available that are specifically created to help cover the costs of long-term care. If you select the right policy for you, this insurance can protect you, your family and your assets against the financial burdens of providing for long-term care.
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