Types of Long-Term Care Insurance Policies

There are three types of insurance policies currently on the market in Wisconsin to cover long-term care expenses. They are:

  1. Long-Term Care Insurance Policies
    These policies cover both institutional (nursing home or other facility) care and care in the community (home health care or other community-based services).
  2. Nursing Home Insurance Policies
    These policies cover only institutional care, such as in a nursing home. These policies may or may not cover care in an assisted living facility.
  3. Home Health Care Insurance Policies
    These policies cover only community care, such as home health care. These policies may or may not cover community-based services, such as adult day care.

Note, only those policies that provide coverage for both institutional and community-based care may be advertised or sold as long-term care insurance policies.

The publication Long-Term Care Insurance Policies Approved in Wisconsin provides benefit information and sample premiums for individual nontax-qualified, group tax- and nontax-qualified and individual tax-qualified approved long-term care insurance policies. The publication also provides the name, address and phone number for companies that have approved nursing home insurance policies, home health care insurance policies, and long-term care riders to life insurance policies.