1. Inflation Protection: Get a policy that raises your long term care benefit amount automatically... the cost of a nursing home today will be much higher 20-30 years from now.
2. Variable Coverage: Make sure your policy includes coverage for not only nursing homes but home health aids, adult day care providers, and assisted living facilities so you will have a choice of care.
3. Independent Care Management: If you have a claim, the insurance company will send a representative to determine your benefit needs... make sure your policy gives you the option to have an independent licensed health care provider to manage your care and not someone working for the insurance company.
4. 70% Minimum Daily Benefit: If you need services, don't just choose the cheapest daily benefit amount but find out what is the average daily cost of nursing homes in your area and request at least 70% of that. Also, make sure this amount is adjusted annually to reflect 70% of the current yearly amount.
2. Variable Coverage: Make sure your policy includes coverage for not only nursing homes but home health aids, adult day care providers, and assisted living facilities so you will have a choice of care.
3. Independent Care Management: If you have a claim, the insurance company will send a representative to determine your benefit needs... make sure your policy gives you the option to have an independent licensed health care provider to manage your care and not someone working for the insurance company.
4. 70% Minimum Daily Benefit: If you need services, don't just choose the cheapest daily benefit amount but find out what is the average daily cost of nursing homes in your area and request at least 70% of that. Also, make sure this amount is adjusted annually to reflect 70% of the current yearly amount.
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