What is Short-Term Care Insurance Protection?

According to the National Advisory Center for Short-Term Care Information, short-term care is a great alternative for long-term care insurance planning when cost, age or health is an issue.

Short-term care (sometimes called ‘Recovery Care’) insurance policies offer benefits for many different types of health care and aging needs and may be a great option for people who cannot afford or qualify for long-term care insurance. They generally are purchased to cover gaps in Medicare coverage or as an alternative to traditional long-term care insurance protection – which can potentially save patients thousands of dollars and a lot of stress.

Just as the name implies, short-term care insurance policies are designed to provide benefits for just a few days or for up to 360 days.

How Can It Benefit You & Your Loved Ones?

Reduction In Financial Risks

Short Term Care (STC) insurance addresses significant financial risks facing individuals today. The National Advisory Center for Short Term Care Information was created to share information that can help you discover how short-term care insurance works and how it can benefit you and those you care about.

According to an AARP Report (2013), many hospitals have coded patients as “Observation Status” even when patients remained overnight due to financial penalties by Medicare, when they readmitted too many patients. This could mean a 20% coinsurance, that can add up to thousands of dollars you don’t have!

No Wait Time

Short-term care insurance also has a 0 day-wait, which allows beneficiaries to get immediate access to their benefits in their time of need, with coverage of up to 360 days. According to the National Advisory Center, 41% of all long-term care insurance policy claims last less than 1 year (2016)


What Does It Cover?

Short-term Care Insurance covers:
1) Home Health Care
2) Assisted Living Facilities
3) Skilled Nursing Home Stays
4) Adult Day Care/Hospice Care

Short-term care insurance policies can vary in terms of what they cover as well as coverage limits. But, in general, these policies will cover all of the above listed.

Remember that in addition to helping you choose the right plans to fit your needs, Fulmer Insurance Group is committed to advising you on any questions you may have during your coverage. Having someone at your side, who helps you ask the right questions, can make it easier to obtain the maximum benefits of your plan as well as save you from having to pay additional costs you didn’t know about. Call a licensed agent at 702-595-4970!

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