Or… Surprising Things Your Long Term Care Policy Will Pay For!
So often people know the main tings for which a long term care policy will pay, but they have no idea about the “other” benefits that might be in there. So we wanted to give you a short list of the (often surprising) things your policy might pay for. The list below is not comprehensive – every year we will run across a policy that has some new twist to it. But these are the highlights and should at least give you an idea of what you might check for in the policy (or ask the company about). If you have any doubts, give us a call; that is what we do….read policies and help you understand the fine print!
- Care giver training – if a family member is going to be your care giver, this feature says the long term care insurance policy will reimburse for training for that family member to be sure they know how to life properly to protect the back, have skills for handling dementia patients, and many other things that can help when caring for an aging senior.
- Home modification – this can go by many names (stay at-home benefit is one of the most common), but it is a small lump of money the policy will pay out to put in ramps, grab bars, widen doors so that a claimant can stay home rather than go to a facility. Sometimes the long term care insurance policy will also cover durable medical equipment like wheelchairs or hospital beds. To be certain this money often doesn’t cover the entire cost of such items, but whatever it will pay can off-set the high cost. So if you need these items, check to see if your policy will reimburse any of these items.
- Emergency medical transport – some long term care policies will reimburse a small amount (often $50 or $100) if you require ambulance transport to the hospital while on claim. Again, you hope to never use this benefit, but if you do have to have emergency transport, you should check the contract to see if it can be partially reimbursed.
- Prescription drugs – some contracts will reimburse a set amount of money for Rx that you take while on claim. This is more typical of older policies than new, but it is always worth checking the contract to see.
- Informal care – some long term care policies (particularly ones with a cash feature) will allow you to pay family members, neighbors or others who do not have formal care giver training to be your care giver. These types of clauses are fewer and farther in between in the newer contracts, but were fairly common in older policies.
Some Additional Links to help you with your long term care claim journey
- FAQ’s for Claims
- Document Everything
- Why Won’t the Carrier Talk to Me?
- Tips for Getting Your Long Term Care Insurance Claim Paid
- Riding the Long Term Care Claim Carousel
- Long Term Care Claim Worksheet
- Dutiful Heir(ess): Quality of Life and a link to Book about filing Long Term Care Claims
- Oh, the Alphabet Soup of It !
- Long Term Care Claim Basics