How to protect your assets and insure your long-term care.

Long-term care insurance is not very popular subject to discuss. Many people avoid long-term care talk with their friends and family. It is a perception, that long-tem care is needed for old people, when their are placed in a nursing home. Approximately 40% of people needed long-term care are 18 to 64 years old. According to the statistic, only 20% long-term care takes place in nursing home, 80% long-term care occurs at home, assisting living facilities and adults day care places.

Many people do not plan for long-term care, because they believe, that they will never need it, or Medicare or private health insurance will pay for it. Medicare, for example offers very limited coverage for up to 100 days. Your assets should not exceed certain amount of dollars (the amount may very in different states) to be eligible for Medicaid coverage. Many long-term facilities do not accept Medicare or Medicaid. So you choice could be limited. Many states are working on fixing the budget by reforming Medicaid. It may lower the coverage for long-term care in the future.

It is always possible to buy a long-term insurance, when you need it. Many people underestimate the cost of long-term care or have never investigate this subject. It is wise to check the prices, coverage, discount options for long-term care insurance.

Long-term care insurance might be a useful alternative. You can choose your benefits and coverage, even share your benefits with your spouse.