Local long-term care insurance agent George E. Daniel Jr. reviewed possible long-term care policies for members of the Bainbridge Lions Club Wednesday.

“Because of the high cost, it is not realistic for most Americans to expect to be able to save the amount of money they would need to pay for long term care.” Daniel said.

Daniel further pointed out that while Medicare provides some benefits for long term care services, they are very limited.

 “Medicaid does pay for long term care services, but those who are not indigent must generally deplete their life savings and assets before they can become eligible for Medicaid,” Daniel said. “Also, while receiving Medicaid benefits they must spend almost all of their income on care.”

Daniel further pointed out that there is another approach to funding long-term care and it is called long term care insurance. A person can buy a long term care insurance policy, pay premiums of a set amount, and when he or she needs care, they will receive benefits to help cover the cost.”

Daniel emphasized that long term care policies often have a great deal of variation    resulting from different product designs and optional features.

“Because of the high demand for beds in nursing homes and rooms in assisted living  residences, a person can lose their place while they are in the hospital or away for some other reason unless he intends to pay for it while he is gone.”