Long-Term Care Insurance & Depression: Understanding the Connection

According to the National Institutes of Health, about two million Americans age 65 and older suffer from depression, and about five million have less severe symptoms of the illness. Long-term care insurance covers certain permanent care costs for people with depression.

Definitions

• The phrase "long-term care" covers a range of medical and support services for people with a degenerative condition, prolonged illness or a cognitive disorder. Long-term care insurance pays for in-home, nursing home or adult day care. According to the National Clearinghouse for Long-Term Care Information, benefit eligibility usually depends on an inability to perform two "Activities of Daily Living," such as bathing, eating, dressing, toileting, caring for incontinence and transferring from bed to chair.

Underwriting Considerations

• Strict underwriting considerations and exclusions cover existing conditions, including mental illnesses, on insurance policies. People with a pre-existing condition may find themselves rejected or having to wait six months for their LTCI policy to cover services related to that condition, reports LongTermCare.gov.

Coverage

• For people incapacitated from depression and unable to perform Activities of Daily Living, LTCI should cover the cost of care, just as it covers care for individuals who cannot perform certain ADL for other medical reasons. Some policies also cover prescription medications during long-term care, and/or transportation to and from therapy.