long-term care insurance
Coverage of long-term care insurance in the Nexus archive.
- A New Option for Long-Term Care Costs
Washington state's WA Cares program, the nation’s first state-operated long-term care insurance, began distributing benefits in July 2023. Funded by a 0.58% payroll tax surcharge, it offers lifetime benefits of up to $36,500 for those contributing for 10 years. The program aims to address gaps in Medicare and Medicaid coverage for long-term care, with 3.7 million workers participating in 2023.
- My family and I have spent over $700,000 on long-term care for my mom and husband. I had to put life on hold.
Tamara Johnson spent over $700,000 on long-term care for her mother and husband after they required in-home support due to health issues. She quit her corporate job to care for them, facing financial strain due to a lack of long-term care insurance coverage.
- Decoding differences in senior care and what’s covered
The article clarifies common misconceptions about senior care, emphasizing that Medicare does not cover most home care services, which are typically private-pay unless covered by long-term care insurance. It distinguishes between home care (nonmedical, daily living assistance) and home health care (Medicare-covered, medically necessary services). Experts highlight the importance of understanding insurance policies and care needs to navigate costs and coverage.