Find out if your employer offers a policy. Some employers offer long-term care insurance at group rates. Employer-sponsored plans typically have lower rates than individual policies, and you may not have to meet the same medical requirements you would if you purchased an individual policy.[3] X Research source Long-term care insurance also may be available through a professional or service organization to which you belong.[4] X Research source Decide the level and type of coverage you need. Although it may be difficult to determine if you're looking for a policy decades before you anticipate needing it, you need to look at the types of long-term care available in your area and which you prefer. Consider the support you may have from your family and friends. If you can reasonably expect significant assistance from them, you may require lesser levels of coverage.[5] X Research source The level of coverage for which you are eligible may depend on whether you have any pre-existing conditions that would increase the likelihood that you need long-term care later in life.[6] X Research source Keep in mind that long-term care can cost between $200 and $300 for a private room in a nursing

home or assisted living facility, and at least $20 per hour for in-home care.[7] X Research source Assess your finances. Your finances will affect not only the premiums you can afford but also the amount of benefit you'll need and how soon it will take effect after you require long-term care.[8] X Research source Keep in mind that premiums often increase over time, and your income may decrease as you get older. If you have to drop your policy because you can no longer afford the premiums, you will lose the benefits it offers as well as all the money you've already paid into it.[9] X Research source You may want to speak with a lawyer or financial advisor about your retirement savings and other ways to cover future long-term care expenses before you choose to apply for long-term care insurance.[10] X Research source [11] X Research source Evaluate different providers. Once you have a good idea of the type of policy you need, you should research companies that offer those types of policies. Insurance agencies should be licensed to sell insurance in your state, and the agent with whom you work should have additional training and experience in long-term care insurance.[12] X Research

source You can check with your state's insurance department to find out the status of a particular provider's license and whether any complaints have been filed against them.[13] X Research source You also might check consumer boards and organizations such as the Better Business Bureau to assess the company's reputation. You also should review the overall stability of the company and its history with long-term care insurance.[14] X Research source You don't want to purchase a long-term care insurance policy with a company that has a significant risk of going belly-up. Keep in mind that some companies may require you to use certain services or health-care providers rather than giving you a choice. Having a good understanding of the types of long-term care with which you would be comfortable can help you narrow down the policies offered by various companies.[15] X Research source For example, one company may not cover in-home long-term care. If you know that you would prefer to stay in your home rather than being moved to a nursing home or assisted living facility, you should make sure in-home care will be covered by the policies you consider buying. If the insurance company requires

use only of particular services or long-term care companies, you also should make sure that company operates in the area where you live.[16] X Research source Understanding that your premium may increase over time, you can ask each company to provide information regarding the rate history for its premiums, or look into anti-inflation protection for your policy.[17] X Research source [18] X Research source Get quotes. When you're ready to buy your policy, you should get quotes from at least three reputable insurers so you can pick the one that best suits your needs and your budget. The company may provide an informal review before offering you a quote, to determine if you are eligible for the policies it offers.[19] X Research source Make sure you get a written copy of the policy so you can review it carefully. If there are any terms you don't understand, you might consider discussing it with an attorney or financial advisor.[20] X Research source To determine how useful a policy will be to you, compare the amount of the benefits to your financial projections regarding the money you'll have available to cover long-term care as well as familial or other support you have.[21] X

Research source You also should compare the offered benefits to the average cost of care in your area.[22] X Research source If the policy won't cover care for you, it won't be of much value for you to pay into it. When you're choosing among policies, look at how each one defines the events that trigger when you become eligible for benefits. Generally, you qualify for benefits when you cannot complete two or three basic activities of daily life such as bathing, eating, or using the toilet without assistance. However, some insurance companies require you to be physically unable to complete those activities, rather than have mental difficulties due to an illness such as Alzheimer's disease.[23] X Research source Check whether the policy has a nonforfeiture provision. This provision allows you to receive a lesser benefit amount even if you can no longer afford the premiums, based on how long you have paid into the policy. These provisions are required in some states but not everywhere.[24] X Research source When evaluating possible policies, make sure you understand each policy's waiting or elimination period, the daily benefits that will be provided, what must happen to trigger

benefits, and what conditions are excluded.[25] X Research source Choose your policy. Once you've decided which policy you want to buy, it's typically just a matter of signing some paperwork and paying your premium. Typically even after you've signed your policy you have a period of 30 days or so during which you can review your policy and return it for a full refund with no questions asked if you change your mind about your purchase or decide to go with another company.[26] X Research source Average long-term care insurance policies in the U.S. cost between $2,000 and $3,000 a year. That amount purchases a comprehensive policy that covers both in-home and facility care for around five years, paying between $100 and $200 a day.[27] X Research source Make sure you pay your premiums when due or you risk losing your policy and any benefits in which you've invested. You typically have the ability to choose the waiting or elimination period for your policy. This period begins when you need long-term care. Think of this period as similar to a deductible on your auto insurance policy – the shorter the waiting period, the higher your premiums will be.[28] X Research source [29] X

Research source Determine if you're qualified. You aren't eligible for Medicaid unless the value of your assets falls below a certain threshold and your monthly income is less than the federal poverty level.[30] X Research source If you have low income and few assets, you may be better to wait and apply for Medicaid when you have the need for long-term care, as opposed to straining your finances by trying to pay an additional insurance premium. Some states also have long-term care insurance programs that can help you meet your long-term care needs if Medicaid requires you to spend down your assets to become eligible for Medicaid services.[31] X Research source ?#Contact your local Medicaid office. Medicaid is a joint federal and state program, with applications accepted and reviewed by local offices.[32] X Research source You can find out more about Medicaid offices and procedures by selecting your state on the map at https://www.insurekidsnow.gov/coverage/index.html. Many states also have Medicaid applications, information, and assistance available through Aging and Disability Resource Centers. These facilities provide information regarding public and private long-term support for

older adults and people with disabilities.[33] X Research source [34] X Research source Gather documentation. You will need information related to your income, assets, and medical need to complete your Medicaid application. To validate your income and assets, your state agency will need copies of your current tax returns or tax bills. If you own a home, you also may need to provide a real estate appraisal of your property and copies of your mortgage.[35] X Research source You also will need proof of your age and citizenship, as well as proof of all sources of income you receive, including any benefits.[36] X Research source Fill out your application form. You may be able to download an application online, or you can get one by stopping by your local Medicaid office or calling and having one mailed to you.[37] X Research source [38] X Research source You may be able to get someone else to fill out your application for you, but that person will have to have access to your financial records and be able to answer all the questions on the application completely.[39] X Research source Your application will ask questions related to your income, assets, and medical need. The documents you

gathered can help you answer these questions.[40] X Research source Each state may have slightly different procedures for applying, so make sure you check with your state's Medicaid office to find out what's required in your state.[41] X Research source Once you complete your application and provide all necessary documents, the state Medicaid office generally must make a decision on your eligibility within 45 days.[42] X Research source Complete your functional eligibility assessment. If you need long-term care, Medicaid requires this assessment before you are approved.[43] X Research source The functional eligibility assessment evaluates your ability to perform various basic activities of daily living such as bathing, eating, or using the toilet.[44] X Research source [45] X Research source The assessment also considers whether you need skilled services such as assistance from a licensed nurse on a daily basis.[46] X Research source [47] X Research source You will be evaluated by a medical specialist such as a nurse or social worker who is licensed in your state to perform these assessments. He or she will review the information you provided and may interview you.[48] X Research

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