How does it work Long-Term Care insurance?

Here's how it works: The insurers agree to offer policies that meet certain quality standards, such as providing cost-of-living adjustments for benefits to protect against inflation. read more

The federal government announced in August that rates on most of the long-term care insurance policies for federal employees and retirees would increase by an average of 83% starting Nov. 1. The Federal Long-Term Care Insurance Program is insured by John Hancock Life and Health Insurance Co. read more

Home health care services averaged $22 per hour. 1 According to the most recent data in the National Association of Insurance Commissioners’ (NAIC) "A Shopper's Guide to Long-Term Care Insurance" brochure, a year in an assisted living care facility averaged $39,516 per year. read more

Most long-term care insurance carriers have hiked rates on at least some older policies in the past decade, and the hits keep on coming: In Florida, MetLife is proposing long-term care insurance rate hikes of 20 to 95%, and Unum is proposing increases of up to 114% on some of its older policies. read more

Long-term care insurance, or LTCI, is an insurance policy that helps with costs associated with long-term care no covered by Medicare or health insurance. Long-term care and the services associated with it will be required by at least 60% of the aging demographic over the age of 65. read more