Long-term Care Insurance Resources

Here are some additional resources to help you navigate the many questions involved in choosing a long-term care insurance policy

https://planaheadny.health.ny.gov/. This site is sponsored by the New York State Department of Health and gives a general discussion of long-term care insurance for state residents, including frequently asked questions, explanation of types of care, costs, glossary of terms and list of insurance companies.

www.dfs.ny.gov.  (Search for long-term care) The New York State Department of Financial Services website offers information designed to help people choose a policy that meets their individual needs, including charts of companies that offer these policies; a comparison tool that gives sample premiums based on age and other factors; and a downloadable consumer guide.

www.aaltci.org.  The website of the American Association for Long-Term Care Insurance, a trade group, offers a consumer resource center with advice and information about how to plan and finance long term care insurance.  There’s also a page devoted to explaining and comparing costs.

Insurance company ratings: Since many consumers do not actually use their long term care policies for decades, experts often recommend checking the financial stability of potential insurers.

Here are some firms that rate the dozen or so major insurers:

A.M. Best Insurance Review (www.ambest.com);

Fitch Ratings (www.fitchratings.com);

Moody’s Investor’s Service (www.moodys.com); and

Standard & Poor’s (www.standardandpoors.com.