It’s important to consider buying a long-term care insurance policy, when you turn 65. While Medicare may cover short nursing home stays, and very limited in-home care, those who require daily, extended care services, will be responsible for paying out of pocket. And the costs are great.

There are many different long-term care (LTC) policies available, and they vary in price and benefits. Since you can’t predict what your needs will be down the line, you may want to consider purchasing a plan with flexible options. Depending on the specific LTC plan you choose, you may receive help covering the cost of in-home care, and assisted living facility stays. Some LTC policies even go so far as to help cover the costs of modifying your home, to make it safe and comfortable for you.

Like with most insurance policies, the younger you are, the more cost effective the plan. This is why we recommend considering purchasing a LTC plan during the Medicare enrollment process. And unlike some health insurance plans, long-term care plans are not always available to those who are of a certain age or in certain health conditions. All the more reason to consider purchasing one, when you are young and healthy.

Speak with a licensed LTC agent at Plan Medicare now to better understand your options.