Paying thousands of dollars for long-term care insurance policies is a significant investment, but have you reviewed the terms? Often, policyholders are unaware of the elimination period when filing a claim. The process can be challenging due to the provider’s requirements, which often include a primary physician’s form stating the necessity of an aide at home.
It’s crucial to set up a power of attorney (POA) or health care surrogate in advance to assist with the claim. Insurance companies typically require the policyholder to communicate directly, so having an alternative person or family member designated can prevent issues when filing a claim. Home care agencies cannot discuss matters with the insurance company without the policy owner’s written consent.
Knowing your out-of-pocket expenses up front is vital. Most policies have a 15-30 day elimination period during which you must pay the home care agency directly before benefits kick in. Setting aside funds for this period in advance is wise. Policy limits can vary, so understanding daily limits helps in budgeting for services, especially if the limits fall short of what is needed.
Each policy is unique, so read yours carefully. Signing an assignment of benefits with your home care agency, like Affordable Senior Care of South Florida, allows the agency to assist with claims, submit timesheets, and provide necessary documentation for direct payment from the insurance provider.
Long-term care policies are invaluable, especially after surgery, a nursing home stay, or for general home assistance. Ensure your home care agency is not overcharging, as this affects your lifetime benefits. Licensed home care agencies, with direct employees and company coverage for liabilities and worker’s comp, are preferable over nurse registries that use subcontractors.
Review your policy with a family member or friend and choose a reputable, A+ Better Business Bureau-rated agency like Affordable Senior Care of South Florida. Our team simplifies the claims process for you and your family.
Lastly, don’t delay using your policy benefits. Unused benefits mean wasted dollars, so utilize your policy as needed.
Contact Affordable Senior Care of South Florida today to ensure you are prepared and supported in navigating your long-term care needs.