How does Long-term Care Insurance compare to LifeCare?
Long-term care insurance generally covers the cost of long-term care not covered by health insurance, Medicare or Medicaid. With LifeCare, the cost of higher levels of care such as assisted living, skilled nursing and rehabilitation are already covered by your set monthly fee.
It’s important to note that most long-term care policies do not guarantee where you will receive care. Many well-respected healthcare centers have a waiting list, so you could end up receiving care at a less desirable facility. With LifeCare at Meadow Ridge, you are assured of receiving care right here, in the community you’ve come to call home.
Another important factor to consider is cost. The average daily cost for nursing care in Connecticut is $357 per day for a semi-private room and $385 per day for a private room, but the average long-term care policy only pays $100 to $200 per day. You could end up paying $185 to $285 each day for a private room, which can add up fast. With Meadow Ridge’s LifeCare program, these services are already included in your monthly fee. The only additional cost you pay is to cover two extra meals per day, plus any special costs such as prescriptions and medical supplies.