Frequently Asked Questions
Medicare provides only limited coverage for long-term care related primarily to recuperating from a sickness or injury. Medicare pays only for skilled nursing care and medically necessary services. You should not rely on Medicare to pay for your long-term care needs.
Yes, premiums for all long-term care insurance policies may be increased. However, if premiums are based on issue age, they may increase only if premiums are increased for all individuals insured under the same type of policy. If premiums are based on attained age, premiums will increase as you age.
No, your policy is guaranteed renewable for life. The policy may terminate only when you cease paying your insurance premiums or if you use the maximum amount of benefits available under the policy.
Preexisting conditions must be covered by long-term care insurance policies. However, insurance companies may have a preexisting condition waiting period of up to six months. After your policy is in effect for six months, it will pay for covered benefits. However, if you have preexisting medical problems at the time you apply for coverage, the insurance company is not required to accept your application or to issue coverage.
Alzheimer's disease and other dementias are required to be covered by long-term care policies. However, if you have Alzheimer's or other dementia at the time you apply for coverage, the insurance company is not required to accept your application or to issue coverage.
An elimination period is similar to a deductible. This means that when you begin using long-term care services, there is a waiting period before the policy begins paying benefits. You are responsible for paying for all expenses during the elimination period.
Long-term care policies pay only those benefits described or defined in the policy. Some policies pay for assisted living facilities, some do not. Most policies do not cover CBRFs or other placement. Read the definitions in your policy carefully.
The costs of nursing home care vary among facilities and locations. You should contact those facilities that you would consider acceptable and ask about their current daily charges. You can then determine the amount of coverage you will need.