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Most people have failed to consider the need for long term care and ended up spending a significant amount of their retirement savings paying for long term care needs. The cost of staying in a nursing home often exceeds $60,000 a year and rates are increasing 5% to 6% every year. This rapidly rising increase in long term care cost is outpacing inflation. Nearly 70% of people over the age of 65 will require long term care. Long term insurance differs from health insurance or traditional medical care. While your health insurance covers treatment from medical problems or rehabilitation, long term insurance covers day to day lifestyle when you can not take care of yourself. Medicaid is currently the major source of financing for long-term care services. Deciding on whether you need long term care insurance depends on factors such as your income, family situation and of course, your personal risk factors. If there is a good chance that you will need long term care, getting a long term care insurance is highly recommended.

Long-term care plans typically cover costs incurred for assisted living residency, nursing home stay, informal care, in-home care, custodial care, hospice care, and care in an Alzheimer's facility. Your incusrance company may also pay for home-based and community-based care services including speech, physical or occupational therapy, adult day care, home health aides and nurses. Long-term care insurance policies offer a variety of coverage and benefits. You should always consult with an insurance agent before selecting a long-term care insurance policy.

South Carolina offers a Community Long Term Care (CLTC) programs to help individuals who need assisted care, want to live at home and are financially eligible for Medicaid. CLTC allows individuals to make choices about where they live, what services they get and who will provide the services. To qualifiy for the CLTC Community Choices program, an individual needs to must require the same level of care that is needed to enter a nursing facility. To see if you qualify, contact your local Health and Human Services CLTC office.

Relying on your health insurance, Medicare or Medicade to cover your long term care needs puts you at risk. They may only pay a small percentage of your long term care costs. LowSouthCarolinaRates.com will connect you with experts that can discuss your long term care options and the best pricing for their policies. We can put you in contact with specialists in Columbia, Charleston, North Charleston, Greenville, Rock Hill, Mount Pleasant, Spartanburg, Sumter, SC and other cities in The Palmetto State to find cheap long term care insurance from award winning insurance carriers. Our South Carolina insurance agent and broker referral network can help you compare rates from the comfort of your home.