Long Term Care or LTC Insurance is the only insurance policy which will cover the care of services provided by companies like Family inHome Caregiving.  Unfortunately, it is very expensive and few people have it.  A 2019 study funded by the National Investment Center for Seniors Housing & Care found that by 2029, more than half of the nation’s 14.4 million middle-income older adults won’t have the financial resources necessary to pay for senior housing or in-home care.  The study concludes that both public and private funds need to come to the rescue.  There is hope.  The Well-Being Insurance for Seniors to be at Home (WISH) Act would create a federal LTC trust fund that would pay for catastrophic long-term care for those who need it, and it would also allow private insurance companies to offer affordable coverage plans for the initial years of disability.  The plan would be fully paid for by a slight increase in the payroll tax (0.3% of income for both workers and employers), or roughly $300 per year for a median-income earner.


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