Deciding whether to purchase long-term care insurance, and choosing which policy to buy, is a very personal decision. In addition to the fact that Medicare and Medicaid offer only limited assistance, there are several factors to consider, including affordability, scope of coverage, family history, and, of course, age and eligibility. One thing worth noting is that Massachusetts does not, as of this writing, try to recover MassHealth expenses from the estates of people who own a long-term care insurance policy approved by the state at the time they enter a nursing home if the policy provides coverage for at least two years of nursing home care (at $125 per day or more). Weighing these considerations is beyond the scope of this book, but I urge you to meet with a trusted advisor to assess your long-term-care insurance options.
