Long-term care involves a wide variety of services and, generally, older people often need more care than they anticipate. Government assistance programs may offer little help. Other public services may be available but typically are offered on a sliding-fee scale, based on ability to pay. There also may be waiting lists. While long-term care insurance is not for everyone, it is an attractive form of security for many people.
People usually buy long-term care policies from private insurance companies.
However, a growing number of employers are now offering policies to their employees, employees' parents and retirees. Policies vary widely in coverage and cost. Existing health problems, such as Parkinson's or Alzheimer's, might prevent some people from obtaining long-term care insurance due to medical underwriting standards that insurance companies use to keep their rates affordable. Without such provisions, most people would not buy coverage until they needed services. While buying long-term care insurance can be an intimidating process, state insurance departments and senior counseling programs can help.