Long Term Care Insurance

Long term care insurance covers expenses and services not covered by health insurance, Medicare, or Medicaid. Speak with one of our specialists about your options today.

What is Long Term Care Insurance?

Understanding Medicare: Navigating Your Health Insurance Options

Hey there! If you've ever dived into the world of Medicare, you know it's not exactly a walk in the park. The myriad of options, the confusing terms, and the sheer amount of information can make your head spin. But don't worry, I've got your back. Let's break it down together, shall we?

Now, you might be asking yourself, "Why is Medicare so important?" Well, for millions of Americans, it's the foundation of their healthcare during retirement. It's that safety net that ensures you won't have to empty your bank account over a hospital bill. But, like any good safety net, understanding it thoroughly is crucial. Let’s get the ball rolling!

The Benefits of Long Term Care Insurance

Long-term care insurance generally covers home care, assisted living, adult daycare, respite care, hospice care, nursing home and Alzheimer's facilities. If home care coverage is purchased, long-term care insurance can pay for home care, often from the first day it is needed. It will pay for a visiting or live-in caregiver, companion, housekeeper, therapist or private duty nurse up to seven days a week, 24 hours a day (up to the policy benefit maximum).

Other benefits of long-term care insurance:

Many individuals may feel uncomfortable relying on their children or family members for support, and find that long-term care insurance could help cover out-of-pocket expenses. Without long-term care insurance, the cost of providing these services may quickly deplete the savings of the individual and/or their family.
Premiums paid on a long-term care insurance product may be eligible for an income tax deduction. The amount of the deduction depends on the age of the covered person. Benefits paid from a long-term care contract are generally excluded from income.
Business deductions of premiums are determined by the type of business. Generally corporations paying premiums for an employee are 100% deductible if not included in employee's taxable income

Medicaid provides some of the benefits of long-term care insurance. A welfare program, Medicaid does provide medically necessary services for people with limited resources who need nursing home care but can stay at home with special community care services. However, Medicaid generally does not cover long-term care provided in a home setting or for assisted living. People who need long-term care often prefer care in the home or in a private room in an assisted living facility.

Contact us to learn more about the right long term care insurance for you.

(929) 292 8005
3050 Whitestone Expwy
Suite 105 M
Flushing, NY 11354
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