Myth #1 Most long-term care insurance claims are for nursing home careWhen the long-term care insurance began in the mid-1960’s, most policies only covered the cost of nursing homes. It wasn’t until the early 1990’s that insurers began including riders that covered...
Medicare Supplement Insurance = A private insurance policy that covers many of the gaps in Medicare coverage (also called Medigap insurance coverage).
Medicare = The federal care program providing hospital and medical insurance to people aged 65 or older and to certain ill or disabled persons. Benefits for nursing home and home health services are limited.
Tax-Qualified Long-Term Care Insurance Policy = A policy that conforms to certain standards in federal law and offers certain federal tax advantages. What does the IRS say about qualified long-term care insurance contracts: A qualified long-term care insurance...
