T he good news is that people are living longer. The cost for nursing home care, home care and adult day center care varies from one part of the country to another. With figures like these, paying an annual premium for insurance to cover possible long-term care bills may sound like a great idea. However, long-term care insurance costs a pretty penny itself and simply doesn't make financial sense for most people. Here are some basics to help you decide if you are a good candidate for this type of policy.
Many people live to a healthy ripe old age and remain perfectly independent.
But it's impossible to predict who will have that kind of luck and who will be hit with an illness or disability that will require some kind of on-going help. Long-term care is provided by home care agencies, senior centers, adult day care centers, traditional nursing homes and continuing care retirement communities. Families often provide long-term care as well. Below is an explanation of the three major types of long-term care. Skilled nursing care is needed for medical conditions that require care by skilled medical personnel such as registered nurses or professional therapists.