For many people with private, stand-alone long-term care insurance (LTCI), LTCI may act as insurance against the holder having to go into a nursing home.
Jesse Slome has raised that possibility in a batch of Connecticut Partnership for Long-Term Care data he has crunched for the American Association for Long-Term Care Insurance (AALTCI).
The numbers from Connecticut may not necessarily represent what happens in the rest of the United States perfectly.
Connecticut is known for having some of the United States’ most expensive nursing homes.
But, in Connecticut, at least, relatively few LTCI claimants are using their benefits to pay for nursing home care.
Here are figures on the share of Connecticut LTCI claimants using their benefits to pay for various types of LTC services:
- Homemaker services, adult day care, durable medical equipment or facility bed holds: 7%
- Attendant care: 9%
- Nursing home care: 15%.
- Assisted living facility stays: 30%
- Home health aides: 51%
A link to AALTCI’s LTCI data collection is available here.
— Read First-Time LTCI Claimants May Be Getting Older: AALTCI, on ThinkAdvisor.