Private-Sector Approaches to Financing Long-Term Services and Supports

Background

Private-sector approaches for financing long-term services and supports Also known as Long-term Care (LTC), LTSS encompass a broad range of assistance needed by people of all ages who have cognitive or mental impairments and who may lack the physical ability to function independently.  In their basic form, LTSS consist of help with self-care and… ( LTSS Also known as Long-term Care (LTC), LTSS encompass a broad range of assistance needed by people of all ages who have cognitive or mental impairments and who may lack the physical ability to function independently.  In their basic form, LTSS consist of help with self-care and… ) must be part of a comprehensive financing strategy for LTSS Also known as Long-term Care (LTC), LTSS encompass a broad range of assistance needed by people of all ages who have cognitive or mental impairments and who may lack the physical ability to function independently.  In their basic form, LTSS consist of help with self-care and… . These include private long-term care insurance, hybrid policies that link long-term care insurance coverage to traditional life and annuity A contract that provides fixed payments for a lifetime or a specified number of years, usually after retirement. policies, public-private partnerships, life insurance products with accelerated insurance benefits paid from the death benefit, and reverse mortgages A loan that allows older homeowners to tap into the equity in their home without having to make monthly mortgage payments while still living there. Homeowners can receive a single lump-sum payment, tap a credit line as needed, or receive a monthly amount. The loan becomes due and must… .

Found in Private-Sector Approaches to Financing Long-Term Services and Supports