Nursing Homes: A Shopper's Guide to Long-Term Care Insurance
Long-term care is a type of skilled care or personal care service that you might need if you’re unable to care for yourself because of an illness, disability, or cognitive impairment like Alzheimer's disease.
Long-term care may help you maintain your lifestyle but usually won't improve your medical condition. It helps with routine daily activities. It can also help if you need supervision, protection, or reminders to take medicine.
The cost of long-term care is based on:
- the amount and type of care you need;
- where you receive it (such as in your home or in a facility); and
- what type of medical professional provides it.
Expect the cost for care to increase as you get older.
See A Shopper's Guide to Long-Term Care Insurance for guidance in deciding whether you should buy long-term care insurance. This guide from the Texas Department of Insurance provides a list of factors to weigh when you make the decision, such as:
- personal factors (such as life expectancy, health history, and whether you'll have family around to help you),
- income, and
- alternatives to long-term care.