The government, both state and federal, is sending a strong message that it will not pay for Long Term Care for most Americans.
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LTC Insurance Blog
Simplifying the process of understanding Long Term Care, and helping you decide if Long Term Care insurance is right for you.
One common misconception about Medicare is that it will pay for Long Term Care services. In recent years, the United States Government has begun trying to dispel this myth. The Social Security Administration’s annual statements now include the following warning: “Medicare does not pay for Long Term Care, so you may want to consider options for private insurance.”
In some very specific instances, Medicare will pay a portion of Long Term Care costs. Receiving this benefit can be difficult as there are several conditions that must be met in order to qualify.
When discussing Long Term Care insurance with adults, it is not unusual to hear comments like, “I doubt I will ever be in nursing home,” or “no one in my family has ever needed Long Term Care,” or even “if I ever come to that point, I will have someone in my family shoot me.” The variations on this theme are numerous, but the underlying message is clear. Few of us believe that bad things will happen to us; bad things only happen to the other guy. Human nature powerfully insulates us from seriously contemplating the reality that most of us will eventually become frail and unable to care for ourselves independently. Or that we might have a stroke, a disastrous accident, or be diagnosed with a chronic and debilitating disease. Statistical risk data seems to become irrelevant when it comes to our personal future.