Long-term Healthcare Insurance (LTHC): A Great Caregiving & Self-care Choice by Debbie Howard

One of the best planning decisions my mom made for herself when she turned 64 (10 years before she was diagnosed with Stage 4 lung cancer and given 18 months to live) was to purchase long-term healthcare (LTHC) insurance. My sisters and I were so lucky to have this support in our caregiving toolkit. As my mom became less and less able to do things on her own, it made a huge difference to be able to hire a professional certified nursing assistant (CNA) to support us.

Even though the statistics tell us that 70 percent of those aged 65 and up will require long-term care services, only 13 percent have LTCH insurance coverage. There are a number of good providers to check into; the important thing is to educate yourself about the basics, and definitely shop around, since prices can vary dramatically. Some key points you’ll want to consider:

• How much is the total cover? 
• How long is the elimination period? 
• What are the requirements for allowed use? 
• Is there a death benefit? 
• What is the cash-in value?

Learn more about LTHC insurance, including background and provider reviews.

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