NJCPA Long Term Care Insurance

Long Term Care Insurance

 


Live Long and Happy.

With soaring healthcare costs, insurance restrictions, and the need to stretch retirement savings through the years, it’s a good idea to seriously consider Long Term Care coverage.

According to Genworth, in 2014 the average cost of a private room in a nursing home was almost $87,600 per year.1 When you’re faced with rising healthcare and living costs for an aging population, the reality is only two things will likely cover your care when you need it in your older years—either your retirement assets or Long Term Care Insurance.

With LTC Insurance, you feel better knowing you planned ahead for quality care. And it’s not just for your peace of mind. Your family faces far less emotional and financial burden in deciding the best course for your care. LTC Insurance is the same kind of wise investment you make for yourself and your family as life insurance is.


Overview of Advantages for Long Term Care Insurance:

  • Exclusive discounts for ABC Widget Company employees
  • Best in class from the top 25 carriers
  • Product variety for a custom plan to fit your budget and needs
  • Wider underwriting to cover more people and/or lower premiums

For additional information, visit the LTC Education Center.


Important Questions:

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Does Medicare or Medicaid pay for Long-Term Care?

Some services are covered, but others are not. Medicare only pays for long-term care if you require skilled service or rehabilitative. The majority of Long-Term Care falls under non-skilled assistance, which Medicare does not cover. Medicaid covers more aspects of long-term care, but you must meet income and asset requirements to qualify and choice may be limited, such as physicians and facilities.

Does Medical Insurance pay for Long-Term Care?

Some aspects of long-term care are covered by medical insurance, such as nursing services to recover from illness or injury, however they are not the same thing. Your medical benefits may be limited by a maximum benefit you may receive. Medical insurance is not designed to cover day-to-day living, but long-term care is.

Are my spouse or other family members covered?

Coverage is available at the discounted rate for both you and your spouse. Additional coverage can be purchased for parents, parents-in-law, and adult children.

Have more questions?

For more information on this coverage – features, costs, eligibility, renewability, limitations and exclusions – please download the brochure to the right or contact a specialist.



1Genworth 2014 Cost of Care Study

*The Long-Term Care Resources Network is only available for residents of the U.S. Coverage may vary or many not be available in all states.

Learn More and Apply Today


Explore your Long Term Care options by visiting the LTC Education Center dedicated just to NJCPA members. Once you’ve determined your needs, you can apply safely and securely online to get an overview of pricing options and terms.

LEARN MORE

30-Day Free Look


Once your coverage is approved, you will be sent a Certificate of Insurance summarizing your benefits under the Plan. If you are not completely satisfied with the terms of the Certificate, you may return it—without claim—within 30 days. Your premium will be refunded and your coverage invalidated.