Long Term Care Insurance in Texas 

Long-term care insurance generally covers home care, assisted living, adult daycare, respite care, hospice care, nursing home and Alzheimer’s facilities. If home care coverage is purchased, the policy can pay for home care often from the first day it is needed — a visiting or live-in caregiver, companion, housekeeper, therapist or private duty nurse, up to seven days a week and 24 hours a day, to the policy benefit maximum.

Many people feel uncomfortable relying on their children or family members for support, and find that long-term care insurance helps cover out-of-pocket expenses. Without it, the cost of these services can quickly deplete the savings of the individual and their family.

Premiums paid on a long-term care insurance product may be eligible for an income tax deduction, with the amount depending on the age of the covered person. Benefits paid from a long-term care contract are generally excluded from income. Business deductions of premiums are determined by the type of business — generally, corporations paying premiums for an employee are 100% deductible if not included in the employee’s taxable income.

Medicaid does provide some of the benefits of long-term care insurance. As a welfare program it covers medically necessary services for people with limited resources who need nursing home care but can stay at home with special community care services. However, Medicaid generally does not cover long-term care provided in a home setting or in assisted living — and people who need long-term care often strongly prefer care at home or in a private room.