When it comes to long-term care insurance, there are many common misconceptions. Let’s clear up some of the most frequent myths:

❌ Fiction: “I’m probably already covered for long-term care.”

✅ Fact: Most people mistakenly believe their health insurance, HMO, or disability insurance covers long-term care. In reality, only a dedicated long-term care insurance policy provides coverage for day-to-day personal care needs like bathing, dressing, and eating when you’re no longer able to manage these tasks on your own.

❌ Fiction: “Medicare or Medicaid will pay for my long-term care.”

✅ Fact: Medicare only pays for skilled nursing care for a limited time (up to 100 days) following a hospital stay—and does not cover ongoing personal or custodial care. Medicaid may pay for long-term care, but only if you meet strict income and asset eligibility requirements. It is not a realistic option for many people planning their retirement.

❌ Fiction: “Long-term care is only something older people need.”

✅ Fact: While older adults are more likely to need long-term care, anyone at any age can require it due to accidents, chronic illness, or serious medical conditions. Planning ahead protects you from life’s unexpected turns.

❌ Fiction: “I won’t need long-term care insurance—my family will take care of me.”

✅ Fact: While many families step in to help, caregiving can be physically, emotionally, and financially demanding. Professional care—at home or in a facility—may still be necessary. Long-term care insurance helps ease the burden on loved ones and ensures you have access to quality care when you need it.

❌ Fiction: “I can’t afford long-term care insurance.”

✅ Fact: Long-term care insurance is more affordable than most people think, especially when purchased at a younger age. Policies can be tailored to fit your needs and your budget, and premiums are lower the earlier you buy. Incorporating it into your financial or retirement plan makes coverage even more manageable.

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