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Paying for long-term care

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Many of us are living longer, healthier lives than our ancestors did, but with these longer lives come new challenges. Many Americans must receive long-term care as their physical and mental health declines. The good news is that there are many options available for long-term care of adults, and many of them are very good. However, long-term care is expensive.

Many individuals try to plan for the possibility they may need long-term care by purchasing long-term care insurance. This may be purchased individually, or through a group plan, such as an employee benefit.

Long-term care insurance can be a great help for many people who would otherwise have difficulty affording adequate care as they get older. However, this type of insurance is also somewhat controversial. Because most of us have no idea when or if we will need a nursing home or other long-term care, it is difficult to determine how long we should pay for a plan, or whether such a plan makes any sense for us.

In addition, like other forms of insurance, long-term care insurance is provided by companies that may be more motivated by their own profit than by their concern that we get our money's worth. It's extremely frustrating and unfair when an insurer fails to provide the benefits a person needs when he or she needs it most.

If you have been denied a claim for long-term care insurance, it can be crucial to have the help of lawyers who are trained and experienced in disability claims and insurance bad faith. Skilled legal professionals can help you argue your case against powerful insurance companies and other formidable opponents.

Source: FindLaw.com, "LTC (Long Term Care) Insurance: Risks and Benefits," accessed Jan. 3, 2017

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