Search

Keyword:

Service Area:


Resource Directory

 

How to Print Your Search Results

To Print a Single Resource - Click the "Print Resource" link within the resource listing to view a printer-friendly page. When the page opens, right-click within the page and select "Print."

To Print Multiple Resources - First, select specific resources for your list by checking the "Add to List" box next to each resource. Or, to print all the resources shown on the page, check the "Add All To Print List" box. Next, click "Print List" to generate a printer-friendly PDF document. You can then print the document or save it to your computer.

NOTE: Remember to print your list before you leave this page. Checked items will be lost if you leave this page.

Resource Directory Search

Search Criteria Area: All Areas

Should I buy long-term care insurance?

Should you buy LTC insurance?

Only you can say. Your decision should depend on personal health and wealth matters. Start by asking yourself these questions:

About your health
Are you a good candidate for a long stay in a nursing home during your lifetime?

  • How healthy are you?
  • Do you have healthy habits?
  • What is your family`s health history?
About your wealth
What type of resources do you have? (Include things such as income, property, investments, and savings.)
  • Can you afford the policy, now and later?
  • Can you afford extended nursing care?
  • Do you want to leave your family anything? 

Will you need long-term care to protect your health?

While there are no guarantees, if you answer YES to any of the following statements, your chances of needing long-term care might be higher than the average person.

Life Expectancy
Your parents, grandparents, and other family members have generally lived into their 80`s or older. There`s a good chance you`ll do the same. And the longer you live, the more likely it is you`ll need long-term care.

Gender
You are female. One fact of American life is that women live longer than men. As a result, women have a greater chance of being alone and needing long-term care.

Health & Habits
You`ve been a heavy smoker, have high blood pressure or diabetes, or other health habits or conditions that could result in more serious problems in the future. Anyone can have a disabling accident, develop Alzheimer`s or have a stroke, but your chances are greater if you`ve had a history of health problems.

Family History
Your parents, grandparents, or other relatives have suffered from senility or Alzheimer`s in their old age. There`s no guarantee the same thing will happen to you, but your chances may be greater.

Should you buy long-term care insurance to protect your wealth?

Many people who need long-term care may not need long-term care insurance. These questions will help you decide where you fit financially.

Medicaid
Do you now receive Medicaid or Supplemental Social Security Income (SSI)? If YES, you do not need LTC insurance.

If you were eligible for Medicaid, would you be willing to have Medicaid pay your long-term care bills? If NO, you will need a supportive family or a good LTC insurance policy.

Family Support
Would relatives or friends be willing and able to take care of you if you needed continual help with such things as eating, dressing, bathing, etc.? If YES, you may not need to worry about the cost of long-term care. If NO, you will need to plan for the cost of long-term care needs.

Income
Can you depend on having a monthly income of at least $4,800 to pay for long-term care? If YES, you might not need LTC insurance. You would be able to pay the average cost of care out of your own pocket at today`s prices.

Income/Savings
Can you afford to pay $100-200 (or more, the older you are) from your income or savings every month for insurance premiums? If NO, you might not be able to afford LTC insurance. Today`s premiums will probably be even higher in the future.
| Print Resource [Back To Top]

Ohio Department of Insurance

50 W. Town Street
Columbus , OH  43215
http://www.insurance.ohio.gov/Pages/default.aspx

Phone: 1-800-686-1526
Phone Extension: N/A
Area(s) Served: Statewide Contracted Provider: Not Applicable
Description:   The mission of the Ohio Department of Insurance is to provide consumer protection through education and fair but vigilant regulation while promoting a stable and competitive environment for insurers. The department publishes several consumer... read more
| Print Resource [Back To Top]

Ohio Partnership for Long-Term Care Insurance

50 W. Town Street
Columbus , OH  43215
http://www.ltc4me.ohio.gov/index.aspx

Phone: 1-800-686-1578
Phone Extension: N/A
Area(s) Served: Statewide Contracted Provider: Not Applicable
Description:   Ohio long-term care insurance companies can now offer policies that qualify under the state`s Long-term care Partnership Insurance Program. Partnership insurance offers a way for people to buy long-term care insurance, receive policy benefits and pro... read more

 |  CMS Login
175 Tri County Parkway | Cincinnati, OH 45246 | (513) 721-1025