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Long-Term Care Insurance

Long-Term Care Insurance

Long-Term Care Insurance

Although it can be easy to confuse health insurance and long-term care insurance, the two are very different things. The first covers a portion of your expenses related to medical care, such as visiting a doctor, prescriptions, and hospital stays. The purpose of long-term care insurance is to provide financial protection against the high cost of personal and custodial care. The policy reimburses you when you or a loved one incur qualified expenses for nursing home care, in-home personal services, or a related type of community organization.

As compassionate and knowledgeable financial advisors, Macino Financial understands that many of our clients feel concerned about managing the cost of long-term care. We will help you evaluate several different policies and then make a recommendation based on your unique coverage needs.

Services Typically Covered by Long-Term Care Insurance Policies

Most companies that provide this type of policy include a daily benefit that the insured person can use in variety of settings. The most common ones include:

  • The patient’s private home
  • Adult daycare centers
  • Nursing homes
  • Facilities serving those with Alzheimer’s disease
  • Hospice care facility
  • Respite care facility
  • Assisted living homes

When you or your spouse receive in-home care, covered services usually include assistance with bathing and dressing, skilled nursing care, and various forms of rehabilitation therapy. Some policies even cover homemaking services, such as cleaning and meal preparation.

Factors That Determine the Cost of Your Policy

When reviewing offers from different long-term care insurance providers, it’s important to understand how these companies determine your premium. The older you are, the more you can expect to pay each month for coverage. People in their 80s or 90s, for example, would likely draw on the policy more often than those in their 60s or 70s. Some other considerations that go into determining your premium include:

  • Your general health
  • Optional benefits you choose, such as reimbursement that keep pace with inflation
  • The maximum benefit you receive per day
  • The maximum number of days the policy will pay you benefits

You may not qualify for a policy if you’re already in poor health. However, Macino Financial will work with you to find organizations that have a higher likelihood of approving your application. You have worked hard so you can enjoy your retirement. We don’t want to see you lose your savings to long-term care costs.

We want what is best for our clients, including helping you avoid common social security planning mistakes. By taking the time to meet with David or his team at MFS now, you can enjoy your retirement years to the fullest and see for yourself about being a social security millionaire.

Retirement. Your vision. Our passion.

Contact Us Today!

Investment advisory services offered through Virtue Capital Management, LLC (VCM), a registered investment advisor. VCM and Macino Financial Services are independent of each other. For a complete description of investment risks, fees and services, review the Virtue Capital Management firm brochure (ADV Part 2A) which is available from your Investment Advisor Representative or by contacting Virtue Capital Management.

The content of this website is provided for informational purposes only and is not a solicitation or recommendation of any investment strategy. Investments and/or investment strategies involve risk including the possible loss of principal. There is no assurance that any investment strategy will achieve its objectives.


Information provided is not intended as tax or legal advice, and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional.


Macino Financial Services and/or David Macino are not affiliated with or endorsed by the Social Security Administration or any other government agency.


Fiduciary duty extends solely to investment advisory advice and does not extend to other activities such as insurance product sales, including annuities, life insurance, and long term care insurance or broker dealer services. Advisory clients are charged a monthly fee for assets under management while insurance products pay a commission, which may result in a conflict of interest regarding compensation. IAR is also a licensed insurance agent. In this capacity, IAR may offer fixed life insurance products and receive normal and customary commissions. The client is under no obligation to purchase products through IAR on a commissionable basis. In addition, IAR may receive other compensation such as fixed or variable life trails. The potential for receipt of commissions and other compensation when IAR acts as an insurance agent may give IAR an incentive to recommend insurance products based on the compensation received.

Index or fixed annuities are not designed for short term investments and may be subject to caps, restrictions, fees and surrender charges as described in the annuity contract. Guarantees are backed by the financial strength and claims paying ability of the issuer.

Investment advisory services are offered through Virtue Capital Management, an SEC Registered Investment Advisor. Macino Financial and VCM are independent of each other. The firm only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. SEC registration is not an endorsement of the firm by the Commission and does not mean that the adviser has attained a specific level of skill or ability. All investment strategies have the potential for profit or loss. Changes in investment strategies, economic conditions, contributions or withdrawals may significantly alter a portfolio’s performance. There is no guarantee that any specific investment or strategy will be suitable or profitable for a particular client. Past performance is no guarantee of future success. We cannot guarantee that a portfolio will match or outperform any particular benchmark. None of the content should be viewed as an offer to buy or sell, or as a solicitation of an offer to buy or sell the securities discussed. Information on this website does not involve the rendering of personalized investment advice, but is limited to the dissemination of general information on products and services. A professional adviser should be consulted before implementing any of the options presented.