The typical Short-Term Care insurance policy provides coverage for 1 year or less. For many people, this is a very appropriate and affordable amount of coverage. It is true that some long-term care claims last for many years, however, almost half (49%) of long-term care insurance claims LAST ONE YEAR OR LESS. Further, many of these policies restore benefits if covered home health care services have not been received for 180 consecutive days.
The majority of short-term care insurance policies have a 0-day deductible (Elimination Period) option and a full year of benefits. Simply, that means the policy pays on the very first day that you qualify for benefits. Most traditional long-term care insurance policies are sold with a 90-Day Deductible.
It is important to know that these policies can pay in addition to Medicare -- something a traditional Long-Term Care Insurance policy is prohibited from doing.
Most Short-Term Care applications have only 7-to-10 health questions. If you can answer "NO" to all the questions, you are 95% through the health underwriting process.
There are policies that have ONLY 2 "YES" "NO" HEALTH-RELATED QUESTIONS and can be ideal for people with existing health problems.
Who Should Consider a Short-Term Care Policy?
Short-term care insurance is NOT AVAILABLE IN CA, MN, FL and most New England States.
How Much Does Short-Term Care Insurance Cost?
Policy costs are based on your age and the benefits you select. But this will give you a general idea of what you can expect to pay for 1 year of coverage in benefits. (Updated January 2022)
Call or text 925-519-1867 for a no obligation quote and more details.
