- 01
Long-Term Care Insurance
Long-term care (LTC) insurance is specifically designed to cover services that assist individuals with activities of daily living (ADLs), such as bathing, dressing, meal reparation, and mobility assistance.
Top Long-Term Care Insurance Providers:
Mutual of Omaha – Offers comprehensive LTC policies covering personal care and daily assistance.
New York Life – Provides flexible LTC coverage with various benefit options.
Northwestern Mutual – Offers LTC policies that may be pricier but provide strong coverage options.
LTC insurance is a great option for those planning ahead, as premiums are typically lower
when purchased earlier in life.
- 02
Life Insurance with Long-Term Care Riders
Some life insurance policies include long-term care riders, allowing policyholders to access their death benefits early to cover long-term care expenses, including home care.
Top Life Insurance Providers Offering Long-Term Care Riders:
Aflac – Offers life insurance policies with LTC riders that allow early access to benefits if the insured requires assistance with daily living.
Nationwide – Provides a long-term care rider allowing policyholders to use their death benefits for long-term care expenses.
Guardian Life – Features LTC riders that allow policyholders to access funds for care services if diagnosed with a chronic condition.
This option is ideal for individuals who want both life insurance protection and potential
long-term care coverage.
- 03
Medicare Advantage (Part C) Plans
Medicare Advantage plans, offered by private insurance companies, sometimes include
additional benefits beyond Original Medicare. Some plans may cover limited home care services, depending on eligibility and provider networks.
Top Medicare Advantage Plan Providers:
UnitedHealthcare – Offers a variety of plans that may include home care benefits.
Humana – Provides Medicare Advantage plans with coverage for wellness and in-home support.
Blue Cross Blue Shield (BCBS) – A leading provider of Medicare Advantage plans nationwide.
Aetna (a CVS Health company) – Includes home care and chronic illness management in select plans.
Cigna – Offers plans with home care and additional support services for seniors.
Medicare Advantage plans vary by state and provider. Be sure to check with each company to confirm coverage options in your area
- 04
Alternative Payment Options
For individuals who do not have long-term care insurance or a qualifying life insurance policy, there are additional ways to fund home care services:
Veterans Benefits – The VA’s Aid & Attendance program provides financial assistance for eligible veterans needing home care.
Health Savings Accounts (HSA) & Flexible Spending Accounts (FSA) – Some funds from these accounts may be used for home care services.
Private Pay – Many families choose to pay out of pocket using savings, retirement funds, or other assets.
If you have any of these policies, contact your provider and verify your coverage.