LTC: Daily Benefit Vs Monthly Benefit

[csalter]

`This is a very interesting debate/discussion. I have enjoyed reading it, but it only reinforces what I wrote in my thread about understanding long term care.

You as agents sell the policies, me, as the consumer, has to make the decision on the the variables and policies.

So don't you see why it can be difficult for the consumer to understand longterm care?

One of the reasons, that my agent said to get a 90 policy was because he said that medicare could possibly pay for up 100 days of care in a skilled nursing facility. That sounded good to me, but it all depends.

 

[Arthur Rudnick]

previously posted by csalter

One of the reasons, that my agent said to get a 90 policy was because he said that medicare could possibly pay for up 100 days of care in a skilled nursing facility. That sounded good to me, but it all depends.

The key words here are "Possibly Pay". You need to keep in mind that Medicare will only pay for skilled care. It will not pay for custodial care, which most LTC services require.

Those 90 days will be out-of-pocket with your Genworth policy.
But, if you started out receiving home care, those benefit days will go towards satisfying your 90-day elimination period.

 

[csalter]

previously posted by csalter



The key words here are "Possibly Pay". You need to keep in mind that Medicare will only pay for skilled care. It will not pay for custodial care, which most LTC services require.

Those 90 days will be out-of-pocket with your Genworth policy.
But, if you started out receiving home care, those benefit days will go towards satisfying your 90-day elimination period.

That's exactly how it was explained to me.