Many Americans wrongly believe that Medicare will pay the bills for nursing home care, assisted living facilities, or help in continuing to live at home. Unfortunately, in most cases, Medicare will pay very little of the costs associated with the help needed that is provided by Long-Term Care coverage. Individual policies have been greatly enhanced to provide broader coverage. In older policies, benefits were only paid if an individual was confined in a nursing home. In many instances, nursing home confinement is not the best or most cost effective way to help people deal with a temporary or permanent need for help in performing activities of daily living.
Individual coverage is based on evidence of good health.
For younger people, normally a health question form is all that is required. For older individuals, a phone interview or face to face interview may be required. Rates are based on age of the individual at the time coverage is purchased. Waiting to buy can be costly, not only in higher premiums, but in the fact that health changes may make an individual uninsurable. Group coverage is now available to smaller employers.