Traditional health insurance and Medicare do not cover the costs of many long-term care services. They do not cover services in your home, including personal care, as well as care in a variety of facility and community settings. Long-term care insurance, on the other hand, will cover the costs of long-term care services.

Long-term care insurance policies provide flexibility and allow for a great deal of choice. You can select a range of care options and benefits that allow you to get the services you need, where you need them.

The cost of your long-term care policy is based on the type and amount of services you choose to cover, how old you are when you buy the policy, and any optional benefits you choose, such as benefits that increase with inflation. If you are in poor health or already receiving long-term care services, you may not qualify for long-term care insurance. In some cases, you may be able to buy a limited amount of coverage, or coverage at a higher “non-standard” rate.