There are still some people who have no idea how long term care works and how this can greatly affect their finances. It’s time to debunk these myths and understand how long term care really works.
Here are some myths about long term care and long term care insurance policy:
- People generally won’t need long-term care. It is for people with illnesses only.
- Long-term care means staying in a nursing home.
- Long-term care costs can be easily paid out-of-pocket.
- Medicare and Medicaid can pay for long-term care.
- Long-term care is covered by health insurance.
- You would only need long-term care when you get sick or old, therefore, that is the time when you should buy and pay for it.