Sounds like a reasonable question right? Assisting living insurance will cover nursing home costs. Let’s think about this. Hmmm… The truth is, it’s kind of a trick question. First of all, there really is no such thing as assisted living insurance per se. Although you may hear someone claim they’ve purchased assisted-living insurance, they’re confusing it with long term care insurance, which will cover someone who enters an assisted-living facility.
So now that we know what assisted-living insurance is, or isn’t, we can answer the second half of this question, which literally speaking is obviously not true. Instead, the question should be asked is, will long term care insurance cover our nursing home cost? The answer to that is yes.
Last but not least, it’s important to understand that assisted-living facilities are NOT the same as nursing homes. Many people confuse the two and often think they’re one and the same. This just isn’t true. Most people will enter an assisted-living facility before going to a nursing home.
Our next post will include an explanation of why it’s important to understand the difference between assisted living and a nursing home. Subscribe to our long term care insurance blog and be the first to know
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