Long-term care insurance helps pay for costs not covered by
private medical insurance, Medicare, or Medicaid. This type of plan
can help minimize the financial impact of long-term health care
needs. In general, long-term care insurance will cover the cost of
home care, assisted living, adult daycare, respite care, hospice
care, nursing home and Alzheimer's care facilities. Most companies
will not insure people with preexisting conditions, it's easier to
buy LTCI before health issues arise.