This content is sponsored by MOAA Insurance Plans.
Long term care isn’t just a future concern — it’s a practical planning issue that often gets overlooked until a need arises. Whether it’s requiring help with daily activities like bathing or dressing, or coordinating care for an aging parent, these challenges can appear suddenly and carry a high price tag. For MOAA members, who are accustomed to managing risk and thinking ahead, long term care insurance is one more way to help protect both family and financial security.
What Is Long Term Care Insurance?
Long term care insurance is a type of insurance designed to help cover the cost of care when an individual is no longer able to perform everyday tasks independently due to a chronic illness, disability, or cognitive impairment. It may help pay for services provided in settings such as the home, an assisted living facility, or a nursing home.
Unlike traditional health insurance, Medicare, or TRICARE For Life, long term care insurance generally covers custodial care, non-medical assistance with activities of daily living (ADLs) that other programs may not.
MOAA members have access to long term care insurance options available through MOAA’s exclusive member program, administered by licensed representatives. These policies are medically underwritten and provide access to professionals familiar with both insurance and the unique needs of retired military officers.
What Does It Cover?
While coverage details vary by policy and insurer, many long term care insurance plans can help pay for:
- In-home care – including skilled services and assistance with personal care
- Assisted living facilities – offering help with daily living in a residential setting
- Skilled nursing facilities – for those requiring 24/7 care and supervision
- Adult day care services – structured programs that support daily care needs
Coverage typically begins when a licensed health care professional certifies that the policyholder needs substantial assistance with at least two ADLs (such as bathing, eating, or dressing), or has a qualifying cognitive condition. Optional benefits—such as inflation protection or shared spousal coverage—may be available depending on the plan selected.
Why It’s Worth Considering
Long term care is a major expense that many families underestimate. A 2024 CareScout report found that the national average cost for assisted living is $5,900 per month, or $70,800 per year.*
These expenses are typically not covered by TRICARE for Life or Medicare, which focus on short-term or medically necessary care. Long term care insurance may help reduce the out-of-pocket burden by reimbursing for covered services, depending on the plan.
For MOAA members focused on preserving their retirement strategy, this type of coverage offers a way to help protect income, provide more flexibility in care choices, and reduce the burden on loved ones.
When to Apply and Who It’s For
Long term care insurance is medically underwritten, meaning your eligibility and premium are based on your health history at the time of application. That’s why many people consider securing coverage while they’re still healthy and actively planning their financial future.
This type of insurance may be a good fit for:
- Retired officers who want to manage potential long term care costs
- Those with family histories of chronic illness or cognitive conditions
- Dual-income households seeking to minimize future caregiving strain
- Individuals looking for additional protection beyond TRICARE or Medicare
Licensed representatives working with MOAA’s member program can help evaluate individual needs and coverage options.
Planning Ahead Pays Off
A career built on readiness often leads to retirement plans that emphasize preparation. Addressing long term care needs early can help:
- Protect your family’s financial security
- Provide flexibility in how and where care is delivered
- Minimize stress on loved ones during difficult times
MOAA’s Role and Resources
As a nonprofit led by officers, MOAA is committed to supporting members well beyond their military service. Through its long term care insurance program, MOAA offers:
- Access to licensed specialists who understand both insurance and military-earned benefits
- Group-rated policy options from respected insurance providers
- Educational tools and personalized service to support confident decision-making
Learn more or request a quote today!
Long term care needs can arise when least expected—but the financial and emotional impact doesn’t have to catch your family off guard. Including long term care insurance in your retirement strategy is a proactive step toward protecting your health, your finances, and your loved ones.
*CareScout Survey 2024 (https://www.carescout.com/cost-of-care)