Long Term Care Made Simple
Long Term Care (LTC) is a benefit promoted by former South Dakota governor Mike Rounds, the SD Dept. of Social Services, and recently the Federal Government under the "Class Act" program.
LTC is the care you receive either at home, in assisted living or in a nursing home when you can no longer perform "Activities of Daily Living" (ADL) due to injury, illness or advanced age. ADL's include eating, dressing, transferring, toileting, continence and bathing.
LTC coverage can help protect you and your family from financial burden, or depleting your assets to pay for long term care. Because individuals may be denied coverage due to poor health, and because rates vary with age, it is best to apply for LTC while you are young and healthy.
LTC Partnership Plans provide asset protection in the unlikely event that your LTC plan benefits are completely paid out, and you would need to apply for Medicaid. For example, if you have a plan that pays for five years, and you require care after the plan ends, the state will disregard your assets, dollar for dollar, by the amount your LTC policy paid out for your care.
Talk to one of our LTC representatives to learn more about the costs and benefits of LTC, and which plan might be right for you.