When Should You Get AARP Nursing Home Insurance?

Nursing home insurance covers the help that you need to receive when you are no longer for yourself and must live in a long-term care facility. Millions of Americans receive nursing home care each year. Basic health insurance does not cover nursing home care, and Medicare only offers limited coverage. This is why it is important to protect yourself and your loved ones by purchasing nursing home insurance. Nursing home insurance covers basic living-related expenses like shelter, utilities and food. It also covers the nursing attention that one receives while in an assisted living facility such as bathing, dressing and cooking.

When Should I Get Nursing Home Insurance?

There are several factors to consider when deciding if nursing home insurance is right for you.

  • If you are over 50 years old and can afford it now, don’t wait. The older you get, the more expensive your premium will be. Also, some insurers offer discounts to individuals who purchase a policy when they’re healthy. If you have a serious pre-existing medical condition, the insurer has the right to deny coverage.
  • Carefully consider your family’s medical history. Though this is not always an accurate predictor of your future health, your family’s health patterns could hint at possible issues that may arise in later years. Nursing home insurance is a smart option for individuals who have a chronic illness that runs in their family, such as Alzheimer’s disease.
  • Consider your current health, lifestyle like whether you a smoker or drinker. Also, consider your finances to determine if nursing home insurance makes sense for you. If you currently have a low income, or expect your income to decrease in the coming years, you may want to consider a less expensive option. For example, you could ask your family or friends to help care for you in the comfort of your own home, or you could inquire about Medicare or Medicaid coverage.

Can I Afford Nursing Home Insurance?

Long-term care is not cheap; depending on where you live, a nursing home stay could cost up to $100,000 per year. The cost of nursing home insurance depends on where you live as well, and generally ranges from $2,500 to $3,800 per year. This may sound like a lot of money, but it is better than the alternative of tens of thousands of dollars per year.

One general rule of thumb is that, if your monthly nursing home insurance premium is more than 10% of your gross monthly income, you probably cannot afford the coverage.

Nursing home insurance protects your spouse, family, and/or friends from the financial burden of high medical bills. Additionally, individuals with nursing home insurance often have an easier time being admitted into a nursing home or assisted living facility.

Choosing a Dependable Nursing Home Insurance Company

One important aspect of nursing home insurance involves choosing a financially-stable and reputable insurance company such as AARP. It is imperative that the insurer you choose will still be around to pay for your nursing home care if you find that you need assisted living care in the future.


Can you buy nursing home insurance after admission?

You cannot purchase nursing home insurance after you are admitted to a long-term care facility. The purchase of nursing home insurance is a predecessor to this event. You cannot buy car insurance to cover a wreck that has already occurred, and nursing home insurance is no different. However, you can purchase long-term care insurance even once you are admitted to a facility. This allows you to participate in a group plan that will significantly reduce the cost of services rendered while you are in the care of a senior facility or end of life facility.

Can you get on AARP with a disability?

AARP nursing home insurance is available to those who are currently disabled, but the premiums may be more expensive for these individuals. The best time to join AARP's insurance plans is while you are still middle-aged and generally healthy. Once your health begins to decline or you suffer a disability, the costs will increase. Consider the benefits you will receive from Social Security once you reach the age of 62 or become fully disabled. These benefits may be large enough to provide for your needs without additional insurance through AARP.