Who uses Group Long-Term Care (LTC) the most?
Great question: Over 40% of people receiving long-term care services are under the age of 65?
This is one reasons why LTC is a frequently requested benefit. Employer-based LTC should be an essential part of a comprehensive benefits package.
LTC is the type of care received either at home or in a facility, if someone needs the assistance with activities of daily living. Increasing life expectancy impacts the potential need for “long-term care” and grows with every passing year of ones life. The likelihood is great that you or a member of your family will need long-term assistance due to a prolonged illness or disability one day.
Typically, LTC expenses are not covered by Social Security or Medicare, Medicare Supplement (“Medigap”), or private health insurance. Medicaid pays for nearly half of all nursing home care, but you must meet federal poverty guidelines and may have to spend down most of your assets on health care.
Call us and let’s talk more about how this option should be part of your group insurance.