Long Term Care Insurance

Long Term Care Insurance  

Overview

Today, we’re living longer than ever. The longer we live, the more likely we may suffer a chronic or disabling illness that requires in-home care or a stay in an assisted living facility or nursing home. According to recent statistics, 70% of 65-year-olds will need long-term care services someday.1

The costs of these services are expensive (average annual cost of nursing home care is $102,2002) and are expected to increase every year. Contrary to popular belief, Medicare, major medical and health care plans, and disability insurance will not cover most costs for these services. These expenses can quickly deplete your personal savings and may impact your retirement dreams.

Long-Term Care (LTC) Insurance can help you pay the cost of your care and help keep your savings intact and lessen the impact of care on your loved ones. It may also help you maintain your independence by allowing you to stay in your own home as long as possible, rather than receiving care in a nursing home or assisted living facility. Advantages include:

  • Provides flexible options to decide what type of care services you may need: Home health care, nursing home and/or skilled facility care.
  • Services include help with the activities of daily living (bathing, dressing, eating, etc.).
  • Coverage for your spouse/domestic partner, adult children, parents or in-laws, grandparents and siblings.
Learn More or Enroll

Click the link to learn more about your Long-Term Care Insurance offering through National Guardian Life or to scheudle a free consultation.
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  • Residents of CA and WA may enroll for long-term care insurance with National Guardian Life at any time. 
  • Residents outside of CA and WA may contact Trustmark or call 855-953-6413.
  • Residents in all states outside of CA were previously given the option to enroll in long-term care insurance with Mutual of Omaha. Enrollment via Mutual of Omaha is closed. Any applications approved are allowed to remain covered however no new applications or enrollment period will be offered in the future. 
  • Note: Some carriers are not currently accepting Washington State applications due to volume; please contact ACSIA for more information. If you are in Washington State and want to apply for the exemption to opt-out of the upcoming payroll tax, you must have a long-term care policy that is effective before November 1, 2021.

 

There isn't a one-size-fits-all solution for long-term care. Everyone's situation is different. We'll work together to customize a long-term care policy that meets your individual needs and fits within your budget. For information about rates, eligibility and underwriting guidelines proceed to GET STARTED. A licensed representative will provide expert advice and the best options to secure your family’s future.

 

 

Contact ACSIA

 Phone
 1-833-888-0695
 Hours
 M-F 9am-6pm CT

 

 

How It Works

FAQ's

Answers about the plan, including eligibility, options, enrollment, customer service and more.

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  • Who is the provider?
    Your employer has made arrangements with Mercer Voluntary Benefits to offer you access to a Long-Term Care Insurance Service. This service will help you review your needs and offer you options from the nation’s top providers of long-term care protection.

  • How can this help me?
    Long-Term Care Insurance helps you offset the costs of care for help with activities of daily living, such as bathing, dressing, eating, toileting, transferring and continence. This coverage will also provide benefits if you suffer from a severe cognitive impairment, which may be the result of diseases (like Alzheimer’s disease) or aging. Long-term care services may be at your home, in a nursing home, an assisted living facility, or a hospice facility.

    You may need long-term care services in three years or three days; it's impossible to predict how long you'll be in good health or if you'll suffer from long-term effects of an accident or debilitating disease. And, because long-term care insurance rates are based on your age at the time of purchase, the younger you are when you enroll, the less your premiums will be.

  • When can I enroll?
    Contact ACSIA for information about the application process.

  • How much will this coverage cost?
    Your cost is based on several factors including your age, any special features you select, and the amount of coverage you want. 

  • What if my employment status changes?
    When you leave or retire from your current employer, you can continue your coverage without interruption.

  • What is the cost of waiting to purchase Long Term Care Insurance?

    If you are thinking of waiting to purchase LTC insurance coverage, consider the impact of waiting:

    • Increases the risk of being ineligible for insurance.
    • Can increase the overall cost of coverage because premium rates increase depending on your age when you apply. Premium rates are based on your age at time of enrollment and the plan design you select, they do not increase with your age.
    • Decreases the overall time you have LTC insurance coverage, leaving you responsible for the cost of care if you need long-term care services.
    • Family may sacrifice income by reducing their hours at work to care for you.
    • Without LTC insurance, individuals and families risk exposure to emotional and financial hardships.


    Waiting delays the covering of your LTC risk and can cost you money and deplete savings.

  • Won’t the Federal Government pay for my Long Term Care?
    Medicare provides minimal financial support for LTC services. Medicare was designed to pay for acute medical conditions and post-rehabilitative care; it was not intended to pay for costs associated with LTC. To qualify for nursing home care under Medicare, a three-day hospital stay is required, and care must be rehabilitative in nature. If these conditions are met, Medicare will pay for the first 20 days. Days 21-100 require a co-payment. There is no coverage after day 100.

 

1www.longtermcare.gov
2Genworth Cost of Care Survey 2019, conducted by CareScout, June 2019

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