International Coverage

Peach

New Member
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My husband and I are in the 50's. We are looking to lay down the ground work for future retirement abroad in South East Asia, in may be 10+ years.

We are looking for LTC insurance policy that pay international benefit. My husband works for the Federal Gov so we have an option of Federal Long Term Care Insc Policy (FLTCIP) which pay 80% benefit abroad .

For comparison shopping, I'm also working with an independent insurance agent to find LTCI that has international benefit. We came up with Med America that offers 100% benefit abroad.

I've never heard of Med America before, so would welcome any thoughts or comment from any one who has any experience with Med America and/or FLTCIP.

Especially, if anyone has filed a claim with either FLTCIP or Med America from abroad, I would love to hear from you.

PS: I am a consumer, so am I allowed to post here. ??
 
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My husband and I are in the 50's. We are looking to lay down the ground work for future retirement abroad in South East Asia, in may be 10+ years.

We are looking for LTC insurance policy that pay international benefit. My husband works for the Federal Gov so we have an option of Federal Long Term Care Insc Policy (FLTCIP) which pay 80% benefit abroad .

For comparison shopping, I'm also working with an independent insurance agent to find LTCI that has international benefit. We came up with Med America that offers 100% benefit abroad.

I've never heard of Med America before, so would welcome any thoughts or comment from any one who has any experience with Med America and/or FLTCIP.

Especially, if anyone has filed a claim with either FLTCIP or Med America from abroad, I would love to hear from you.

PS: I am a consumer, so am I allowed to post here. ??

The Federal Employees plan has the best pricing currently available in the country, however it is a reimbursement model.

However, if international coverage is important to you could consider buying the MedAmerica policy WITH the Cash benefit rider option. I would not buy the reimbursement model with MedAmerica since you have the Federal Plan option.

The cost of insurance with MedAmerica cash option however will be much higher than the Federal Plan's reimbursement model----maybe 67% higher...(only 43% higher after accounting for the reduction in benefits to 80%) but you might obtain the flexibility in the contract that you might need.

You have very good options for your situation.
 
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Thank you. That's very helpful.
I am reading up on the details of Med America Flex Care Pol.
Wondering if there is any specific qualification of Home Health Care agency. Standards and licensing can be very different abroad.
 
Thank you. That's very helpful.
I am reading up on the details of Med America Flex Care Pol.
Wondering if there is any specific qualification of Home Health Care agency. Standards and licensing can be very different abroad.

Well, attached is a specimen policy. Probably similar to what you are currently reading, but if it is not then this specimen will help you.
 

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originally posted by Peach

Wondering if there is any specific qualification of Home Health Care agency. Standards and licensing can be very different abroad.

The policy pays your benefit 100% in CASH. Once you qualify for benefits, there are no requirements to submit bills and/or receipts in order to be paid. You can use anyone that you want to provide care, with no restrictions on providers.

MedAmerica is the only company that will pay 100% of your benefit in cash
world-wide.

If affordable, it's a no-brainer.

Not sure what state you're in, but their new policy (which is not a cash-benefit policy) is being introduced shortly. If this is something that you're going to do, do it now.
 
I check with AM Best and Med Am has only B++ rating. Is it going to be around after 20+ years when I need LTC?

I heard horrible things about others that went under like AIG. My husband think that even with 80% international benefit the FLTCIP is a safer choice. The Fed Gov would still be around then.
 
originally posted by Peach

I check with AM Best and Med Am has only B++ rating. Is it going to be around after 20+ years when I need LTC?

I heard horrible things about others that went under like AIG. My husband think that even with 80% international benefit the FLTCIP is a safer choice. The Fed Gov would still be around then.

MedAmerica is owned by Excellus, Blue Cross & Blue Shield which has an A- rating (Excellent)

LTC companies don't "go under". If they experience financial difficulties, they usually sell their business to another carrier. And, where is the written guarantee that that in 20 years John Hancock or any other company will still be around?

You better check on the international coverage with Hancock.

I believe it pays 80% of covered benefits for only 365 days.
 
Thank you for the insight.
It is tough trying to anticipate the future that far ahead. Appreciate all the help I can get.
 
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