FARMINGDALE PUBLIC LIBRARY
NEWSLETTER TOPIC OF THE MONTH
LONG TERM CARE INSURANCE
Long Term Care
The greatest threat facing older people and their families today may be the financial, social, psychological and familial consequences of needing long term care.
- Learn about consumer protections and long term care insurance policies in New York State by accessing www.aging.ny.gov/LTC/LTCIEOP/nys.cfm
Long Term Care Insurance
Long term care insurance can help you:
- protect your family from the catastrophic costs of long term care;
- remain in control of your assets; and,
- maintain your own independence and dignity.
Private long term care insurance is a way to avoid spending all of your assets when long term care is needed.
Long term care in a New York State nursing home costs about $96,000 per year (more in the New York City area). The cost of long term care insurance depends on your age, the benefits you choose, the length of coverage and other factors.
Long term care insurance policies vary widely in the coverage they provide, and consumers are wise to do some research before purchasing any long term care insurance policy.
Insurance for Long Term Care Services in New York State
A variety of policies is available to cover long term care services. Insurance for Long Term Care Services in New York State describes the types of policies offered in New York State, covered services, State and federal tax benefits and the New York State Partnership for Long Term Care. It introduces insurance requirements and consumer protections and includes a directory of long term care insurers.
If you would like a packet of long term care insurance information, please call Plan Ahead NY at 1-866-950-PLAN [1-866-950-7526]