Does long-term care insurance cover nursing homes?

In short, yes.

Nursing facilities provide residents with daily activities along with a full range of skilled health, rehabilitation, and personal care services available 24/7. Long-term care insurance will help cover the cost of care in nursing homes and is often marketed as one of the best ways to fund such services. This kind of protection can be greatly beneficial, since a 2016 survey by Genworth put the average cost of care in a semi-private room in a nursing home at more than $80,000 per year. Private rooms are even more expensive. It is important to note that some LTC insurance policies will only cover the costs of care received at the nursing home and not the cost of staying in the home itself. If you are interested in nursing home care, look into whether the policy you are considering covers more than just room and board.

It is also worth noting that while most long-term care insurance policies cover care both at home and in facilities, there are also “facility-only” policies which will only cover care administered in a licensed assisted living or skilled nursing facility. This is not a problem if you are interested only in receiving care in such a setting, but if there is any chance you may want to receive care in other venues, take a close look at the limitations on your policy before making a purchase.

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