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Does AFLAC Long-Term Care Insurance Cover Assisted Living Facilities?
Date Updated: July 26, 2024
Written by:
With over a decade of dedicated experience, Andrea Miller boasts an extensive background in healthcare writing and editing. Her expertise spans various facets of the healthcare industry, with a particular focus on nursing, senior care, Alzheimer’s disease, and public health. Andrea has also contributed her editorial talents to reputable publishers in the Philadelphia region, complementing her extensive freelance work.
Reviewed by:
Gene Altaffer has a Masters in Gerontology from the University of Southern California and has worked in many avenues along the continuum of long-term care, assisting thousands of clients and their families since 1995. He also sold long-term care insurance from numerous carriers while also assisting families with retirement planning. Gene helps seniors navigate their Medicare plans, ensuring they understand their benefits and options.
AFLAC long-term care insurance does not cover assisted living facilities. In fact, the company doesn’t offer long-term care insurance at all. However, AFLAC does sell life insurance policies, a common strategy to pay for assisted living needs in the future.
What types of insurance does AFLAC offer?
AFLAC offers many types of insurance as a supplemental coverage provider. They have pet, life, Medicare supplement, final expense, dental, critical illness, cancer and accident insurance for individual policyholders.
What does long-term care insurance cover?
Long-term care insurance covers part of the cost of assisted living or nursing home care in exchange for the premium to buy the policy. Your policy pays up to a daily or monthly limit for services such as help with dressing, grooming and bathing, as well as skilled nursing care. Some LTC insurance covers help with preparing meals and housekeeping if you require assistance for medical reasons.
Understanding your LTC insurance coverage
Your LTC insurance policy documents will specify your policy limit in various sections. This includes the maximum benefit period, which defines how long your benefits will last. While some policies offer an unlimited benefit period, others may provide coverage for only a year or two. Additionally, the policy will outline the maximum daily benefit, indicating the highest amount it will pay for daily LTC expenses.
Some policy documents indicate the maximum lifetime benefit, often called benefit account value. To find this amount, you multiply your maximum benefit period by your maximum daily benefit. For example, if you have a 3-year policy, multiply the MBP of 1,095 days by $150 per day, for a total BAV of $164,250. Learn more by consulting your policy documents or contacting your LTC insurance provider.