• Long-Term Care (LTC) Insurance is a new type of private health insurance that is designed to cover long-term care costs. Services covered by such policies include skilled, intermediate, or custodial care received in a nursing facility, the home, or assisted living facilities.

• LTC insurance can range from providing simple assistance with activities of daily living (such as bathing, eating, hygiene, household chores, etc.), to full time skilled care or even respite care for a family member or friend who is a care giver. The type of coverage you get depends on your individual needs and the amount of premiums you are willing to pay.

• There are now plans where a husband and wife can share the coverage, depending on who needs the care first, or most. A couple can buy a plan that covers six years of long term care for either spouse. Therefore, the husband can use three or four years first, and the wife can use the remaining years later.