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Help Protect Your Family with the Federal Long Term Care Insurance Program
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Uniformed Services Members: Help Protect Your Family with the Federal Long Term Care Insurance Program
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Caregiving: The FLTCIP Offers Support When You Need It Most
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2019: Happy New Year!

This year, make it your resolution to learn more about long term care and the Federal Long Term Care Insurance Program (FLTCIP).

It can happen to you

You're probably already aware of the issues related to long term care, whether it's through direct experience as the caregiver of a loved one who needs daily assistance or knowing a family member or friend who requires more support as they age. It's a new year—and the perfect opportunity for you to consider your potential need for this type of care in the future and learn how you can start planning for it today.

Seventy percent of people turning age 65 will need some form of long term care during
their lives.1

Myths about long term care

Myth 1: Health insurance will pay for long term care.

long term careMost health insurance plans are intended to cover skilled, short term medical care as you recover from an illness or injury. Health insurance does not usually cover the ongoing care you might need when you can no longer perform everyday tasks due to chronic illness, injury, disability, or the aging process.

Myth 2: Medicare or Medicaid will pay for long term care.

Medicare is the federal health insurance program for people who are 65 or older and certain younger people with disabilities. Medicare covers the first 100 days of skilled care in a nursing home following a hospital stay of at least three days. It also covers some home health care for the treatment of an illness or injury. Like health insurance plans, it is not intended to pay for ongoing, chronic care.

Medicaid is a state-based program supplemented by federal funds that helps with medical costs for some people with limited income and resources. Medicaid also covers some long term care services but you must meet your state's poverty criteria to qualify.

Myth 3: I can save enough on my own.

Paying from personal savings is one way to cover long term care expenses. However, you should consider the cost of long term care services before relying on this method.

Here are the current national average costs for long term care services2:

Nursing home (semiprivate room): $91,615 annually
Assisted living facility: $47,064 annually
Home health care aide: $32,760 annually3
The costs of long term care can vary significantly depending on where you live. For information specific to your area, use our Cost of Care Tool.

Myth 4: My family will take care of me.

long term careFamily members may be the first to step in and want to help a loved one in need, but being a caregiver for someone who requires chronic assistance can be a time-consuming commitment that may demand a significant number of hours from multiple people. And, while it may not be a direct cost for you, it can come at a significant financial, physical, and emotional cost to the caregiver.

Long term care insurance may help

Long term care insurance can be a smart way to help protect your income and assets and remain financially independent should you need long term care services someday.

The Federal Long Term Care Insurance Program (FLTCIP) covers long term care in a nursing home, assisted living facility, hospice facility, adult day care center, and at home, and includes informal caregiver provisions that allow a family member or friend to be reimbursed for the care they provide.