How does the Inflation Benefit impact the Daily Benefit of your long-term care insurance policy? The Daily Benefit is the single most important part of your long-term care policy. The Daily Benefit, however, is linked to the Inflation Benefit. How much your...
Inflation Protection = A policy option that provides for increases in benefit levels to help pay for expected increases in the costs of long-term care services.
Long-Term Care Insurance Partnership Program The partnership program is designed to provide incentives for people to take personal responsibility for their own care by purchasing long-term care insurance. The program was designed to reduce Medicaid costs for nursing...
Monthly Home Care Benefit = the amount of money your long-term care insurance policy can pay for each month that you receive qualified care at home.
Home Care Benefit Period (Pooled) = The entire maximum benefit can be used for care received at home. Many older policies had one “Pool” of benefits for Home Care and another “Pool” of benefits for Facility Care. Today, the vast majority of policies have one “Pool”...
