There's No Place Like Home For Health Care

One of the most gratifying things about working in the long term care insurance industry is helping to address the concerns of people all across the US about the possibility that they will one day need extended health care. The key to a reimbursement policy is that the insured receives dollars for o...

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Bibliographic Details
Published in:National Underwriter. Life & Health 2008-02, Vol.112 (5), p.25
Main Author: Holtzman, Eric
Format: Article
Language:English
Subjects:
Health care
Health insurance
Insurance industry
Long term care insurance
Long term health care
Reimbursement
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Summary:One of the most gratifying things about working in the long term care insurance industry is helping to address the concerns of people all across the US about the possibility that they will one day need extended health care. The key to a reimbursement policy is that the insured receives dollars for only those qualified expenses that he or she incurs. The daily benefit model works well when the insured's home health care expenses are less than or equal to the selected daily benefit. While reimbursement policies provide strong financial protection, they have limited flexibility. For the client who is seeking ultimate flexibility in a LTC insurance policy, some carriers sell a cash benefit rider that pays the entire monthly benefit in cash once the insured is qualified for benefits. This option can be expensive but provides the greatest amount of freedom in long term care options.
ISSN:1940-1345