About one third of elderly Americans used their benefits from long-term care insurance to cover care delivered at home last year, according new research by trade group the American Association for Long-Term Care Insurance. Nursing home care topped the list, accounting for 36 percent of the $3.3 billion total, but assisted living costs accounted for 30 percent of the total, with other in-home care options proving popular as well.
According to the association, about 8 million Americans have long-term care coverage, either through an employer or through policies they purchase on their own. It's not surprising that they're using LTC coverage for in-home and assisted living care, as Medicaid and state welfare programs typically don't cover in-home and assisted living options, an association spokesperson said.
To get more background on LTC-funded in-home care:
- read this Associated Press article [1]
Related Article:
Nursing home drug errors remain hidden. Report [2]
Links:
[1] http://www.baltimoresun.com/business/investing/bal-bz.ym.ltinsure04feb04,0,758017.story
[2] http://www.fiercehealthcare.com/node/4124