They are private health insurance policies that provide some of the benefits that Medicare does not cover, such as prescription drugs, hospital deductibles and co-payments. Some policies may cover co-payments for skilled nursing facility care but not for long term care in a nursing home or other facility. Your local Social Security office can give you more information about the various plans available. This type of insurance provides financial assistance with the costs of long-term care, in a facility or in the home. These policies offer different levels of benefits and coverage.
Premiums vary from a few hundred to several thousand dollars annually.
The age and health status of the person applying affects the cost of the premiums. It is very important to research these policies. The Oregon Insurance Division has much information on long-term care insurance. Medicare HMO Medicare HMOs sometimes offer additional benefits. Each plan uses its own network of health-care providers, which could limit your choice of physicians.