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Long Term Care
A long-term care insurance policy may pay most of the costs for your care in a nursing home. Many policies also pay for care at home or other community settings. Since policies can vary in coverage, you should read the outline of coverage and make sure you understand what it covers before you make a purchase.
Current statistics from the National Alliance for Care Giving indicate the
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average stay in a Nursing Home is 2.4 years, with a small percentage lasting more than five years. The average stay for an Assisted Living Facility is 3 years and for Home Health Care it is 4.5 years.
Medicare is not designed nor intended to cover long term care. It will not cover more than a few days of skilled nursing home care. Medicare primarily focuses on hospital stays and physician visits. |
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