Do I need long-term care insurance if I already have Medicare, and what age should I buy it?
Answered by 4 licensed agents
Medicare is not a replacement for long-term care in a nursing home. Medicare will pay a portion of the cost in a NH for a short time of 21 days. This is rehab or care to return to normal daily living after surgery. Yes, if you want protection for the cost of LTC, indeed the purchase of a policy will help to cover some or all of LTC expenses.
Medicare does not provide long-term care. A person must have enough funds to pay for long-term care or they should invest in some type of long-term care policy. However the older they are the more expensive it will be so it’s a good idea to start thinking about that at age 67 out of 12 people will need some type of long-term care and it is one of the most traumatic exhausting emotional experience that a family can go through to care for a loved one
Long term care policies are always recommended to cover any and all expenses related to mutiple care settings. Majority of these types of policies are available from ages 18 to 79, with rates dependent on health screenings.
