Due to medical advancements, more procedures are being performed on an outpatient basis. Hospital stays are shorter and recovery times may be quicker, but many people still need additional care during recovery. Whether that care takes place in a nursing home or at home, people often rely on Medicare to cover those additional out-of-pocket expenses. Unfortunately, many people don't realize Medicare coverage is limited and specific requirements must be met first. Our short term care insurance policies can help protect you from out-of-pocket medical expenses so you can focus on what really matters-your recovery.
It’s pretty straightforward: you pick a benefit amount, usually offered in $10 increments from $50 to $300 per day, and the number of days (up to 360) that you want to receive the benefit.
The majority of policies go into effect immediately. That means the policy pays on the very first day you qualify for benefits. Most traditional long-term care insurance policies (about 94%) are sold with a 90-day deductible that must be met before benefits are paid.
The triggers for benefit eligibility for short-term care insurance generally are the same as they are for long-term care coverage. The policy pays for care when the insured can't perform at least two of six "activities of daily living" without help -- eating, bathing, transferring in and out of a chair or bed, dressing, toileting, and continence -- or has a cognitive impairment.
