Long Term Care Insurance

Long Term Care Insurance  

Overview

Long term care is different from traditional medical care.

It helps you offset the costs of care for help with activities of daily living, such as bathing, dressing, eating, toileting, transferring and continence. This coverage will also provide benefits if you suffer from a severe cognitive impairment, which may be the result of diseases (like Alzheimer’s disease) or aging. Long term care services may be at your home, in a nursing home, an assisted living facility, or a hospice facility.

Investing in long term care insurance now could be the most important decision you make.

Why? Because you can't tell when you'll need it. You may need it in three years or three days; it's impossible to predict how long you'll be in good health or if you'll suffer from long term effects of an accident or debilitating disease. And, because long term care insurance rates are based on your age at the time of purchase, the younger you are when you enroll, the less your premiums will be.
Learn More or Enroll

Click the link to learn more about your Long Term Care insurance offering or to schedule a free consultation.

Tell Me More

It is Lifestyle Protection. Financial professionals frequently recommend adding LTC insurance to an asset protection plan to help protect retirement funds, reduce caregiving responsibilities as a family concern, sustain current lifestyle with dignity, and protect a legacy for beneficiaries.

Whatever goals you have for yourself and your family, you should consider LTC insurance as a key element in your financial plan. The longer we live, the more likely we may suffer a chronic or disabling illness that requires in-home care or a stay in an assisted living facility or nursing home. Today, the costs of these services are high and are expected to increase dramatically over the next 10- 20 years. Contrary to popular belief, Medicare, major medical and health care plans, and disability insurance will not cover the majority of costs of LTC services. These expenses can quickly deplete your personal savings and may impact your retirement dreams.

However, LTC insurance can help you pay the cost of your care. What’s more, the benefits can help keep your savings intact and lessen the impact of care on your loved ones. It may also help you maintain your independence by allowing you to stay in your own home as long as possible, rather than receiving care in a nursing home or assisted living facility.
Contact Us

 Address
Mercer Voluntary Benefits
12421 Meredith Drive
Urbandale, IA 50398
 Phone
1-800-729-3032
 Hours
 M-F 8a-5p ET
 Email
employerbenefitinquiries.service@mercer.com

FAQ's

Answers about the plan, including eligibility, options, enrollment, customer service and more.

  • Who is Eligible?

    • Employees and their spouses/domestic partners aged 18 through 79 may apply with full medical underwriting.
    • Extended family members can also apply for coverage if they are between the ages of 18 and 79. Eligible participants include spouses or domestic partners, adult children, parents or in-laws, grandparents, grandparents-in-law, aunts, uncles, cousins and siblings. Applicants will be asked to complete a full medical underwriting application. Applicants must be U.S. citizens or permanent resident aliens, have a valid social security number or tax identification number, sign the application on U.S. soil, and provide a U.S. mailing address.
  • What is the Cost of Waiting to Purchase Long Term Care Insurance?

    If you are thinking of waiting to purchase LTC insurance coverage, consider the impact of waiting:

    • Increases the risk of being ineligible for insurance.
    • Can increase the overall cost of coverage because premium rates increase depending on your age when you apply.Premium rates are based on your age at time of enrollment and the plan design you select, they do not increase with your age.
    • Decreases the overall time you have LTC insurance coverage, leaving you responsible for the cost of care if you need long term care services.
    • Family may sacrifice income by reducing their hours at work to care for you.
    • Without LTC insurance, individuals and families risk exposure to emotional and financial hardships.


    Waiting delays covering your LTC risk can cost you money and deplete savings.

  • Won’t the Federal Government Pay for my Long Term Care?

    Medicare provides minimal financial support for LTC services. Medicare was designed to pay for acute medical conditions and post-rehabilitative care; it was not intended to pay for costs associated with LTC. To qualify for nursing home care under Medicare, a three-day hospital stay is required, and care must be rehabilitative in nature. If these conditions are met, Medicare will pay for the first 20 days. Days 21-100 require a co-payment. There is no coverage after day 100.

Mercer's Role & Compensation

Details of Mercer disclosure of the compensation.