I know someone with a policy that pays $100 per day and has no maximum days at ALF. It also allows you to leave the ALF, if for example you improve and can perform your ADLs and return in the future when you worsen again. This is a very nice facility that does not accept Medicaid. I hear this sort of policy is no longer available. The only downside of this policy is it did not allow home care.

Any advice on what to look for in a policy? When is the right time to buy it, assuming you are a healthy baby boomer, who is pre- retiterement.

Look forward to hearing from real life experience on these policies.


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But don't buy it if you can't afford the premiums forever. It will help protect your assets from Medicaid, but it's only for the somewhat well-off.
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Start with link on, then do a little Internet research. Ask around to trusted friends for referral, then contact a couple insurance reps to review policies and options.

There are many and they are confusing to compare. We had a great rep here when we purchased our policy and she spent a lot of time advising us of policies, scenarios, needs and cost.

Based on what I see, read, and experience with elder care costs, buy the most you can afford. I'm 56, husband 54 and our policies are about $300/mo. With riders for covered partner, shared care, elimination period rider.

Benefit period 2yrs
Daily $200
Compound inflation rider - important to have
Shared care-means either we each use 2yrs or either one of us could use up to 4yrs individually.
Total and shared benefit: $146k
Facility benefit: up to dba for ea day
Home and community based benefits
Prescription drug benefit
Emergency response benefit
Ambulance services
Caregiving traing benefit
Facility bed reservation benefit
Respite care -- good one to have
Coverage outside US -- for travel

These are what we have to help you start having conversations with your insurance broker.

There's no guarantee, but although we live longer, I want to be able to go to a facility and not burden my children or husband. Likewise, I want to have more choice where I go vs having to depend solely on a Medicare facility out of the gate. Frankly, I hope I just go quick and never need to call on the insurance.

Good luck and you are very smart for asking this important question and planning for the future.
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The younger & healthier you are when you start, the better. My Mom has had a LTC policy for 20 years and it only covers a maximum of $3500/month for 4 years.
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Hello lsmiami,

There is an article on that you may find helpful. Here is the link:

I wish you the best,
Melissa R.
The Team
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