Long Term Care Insurance
Plan for future care with confidence. GA Financial Group in Parsippany, NJ can help you explore long-term care insurance options, covered care settings, benefit limits, and costs.
What is Long Term Care Insurance?
Long-term care insurance can help pay for covered services when you meet a policy’s eligibility requirements, such as needing help with daily activities or qualifying cognitive impairment.
Depending on the policy, care may be provided at home, in assisted living, or in a nursing facility. Benefits, covered providers, waiting periods, exclusions, and payment limits vary.
The Benefits of Long Term Care Insurance
What to Compare
Look at covered care settings and providers, daily or monthly benefit limits, total available benefits, eligibility requirements, and the elimination period before payments begin. Ask how inflation protection may affect benefits and premiums over time.
Planning for Care Costs
Insurance can be one part of a broader plan that considers your savings, income, preferences, and family support. Benefits may not cover every expense. Review whether ongoing premiums, including possible increases, fit your long-term budget.
Frequently Asked Questions
Does Medicare pay for long-term care?
Medicare generally does not pay for ongoing custodial care, such as help with bathing or dressing. Covered skilled nursing and home health services have separate requirements and limits.
What about Medicaid?
Medicaid may cover long-term services for eligible people, including some home and community-based care. Financial, functional, and service requirements depend on the state and program.
Can I receive care at home?
Some policies cover home care. Check the covered services, provider qualifications, benefit limits, and waiting period rather than assuming all home care is included.
When do benefits begin?
You must meet the policy’s benefit triggers and any elimination period. Ask whether days are counted as calendar days or days on which covered services are received.
Can premiums increase?
Premiums on some policies can increase. Ask which amounts are guaranteed, how rate changes work, and whether benefits can keep pace with rising care costs.
What should I bring to a consultation?
Have your care preferences, existing coverage, budget, and questions available. Eligibility may depend on age and health. We can help you compare the policy details.
Ready to start planning?
Book an appointment or call (862) 254-8125. Coverage, eligibility, and availability vary by insurer, policy, and state.
Contact us to learn more about the right long term care insurance for you.
Phone: (862) 254-8125
Toll free: 1-866-764-3381
342 Parsippany Road, STE 6, Parsippany, New Jersey 07054, United States
Get a quote for long-term care insurance