Lengthy-term care insurance coverage is required now greater than ever, however the idea wants rebranding, in accordance with the American Affiliation for Lengthy-Time period Care Insurance coverage.

Greater than 200,000 residents and employees in long-term care settings have died of COVID-19 because the begin of the pandemic. That’s 23% of all COVID-related deaths, in accordance with information shared earlier this month by the Kaiser Household Basis. The numbers come from state and federal information sources and primarily embody nursing houses but in addition assisted dwelling communities and group houses.

The statistics spotlight the necessity for long-term care insurance coverage, however the time period is off-putting to lots of people, mentioned Jesse Slome, director of the American Affiliation for Lengthy-Time period Care Insurance coverage.

“Individuals by no means needed to go to nursing houses, and COVID is simply making folks extra conscious that this isn’t a fascinating possibility,” Slome mentioned. 

The class must be rebranded, the skilled mentioned. Insurance policies usually concentrate on expert care, with house care listed as a secondary profit that’s included. That’s a turn-off, Slome mentioned, as most older adults need to age in place in their very own houses for so long as potential. As an alternative, he advocates rebranding as “nursing house avoidance safety.”

“If long-term care insurance coverage is to ever grow to be a viable possibility for greater than a really small proportion of people, issues want to vary,” Slome mentioned. “A part of that change, I imagine, must be a re-branding of the class, and COVID actually offers an incredible alternative to try this.”