• Long term care, insurance is not for everyone. To know if long term care insurance is for you, evaluate your finances, determine future care desires, and discuss it with loved ones or those you trust.
• Long term care, like other forms of insurance, can be subject to premium increases. This is true for all long term care insurance companies.
• Medicare does not pay for long term care. Medicare pays for limited short term skilled nursing care.
• The Insurance Division employs experts in long term care and senior insurance issues. Call the toll free number with your questions.
• If your policy does not have inflation protection, the total daily amount paid by your policy will not increase with the costs of living. You will have to pay the difference.
The Basics of Long Term Care Insurance
Long term care can be very complicated. Learn what long term care is and some of what long term care insurance entails.
Common Long Term Care Definitions
Long Term Care insurance is not standardized and can vary with each policy. The terms provided are commonly used and will be useful while shopping around for a policy. But remember your policy is always the best source of definitions for you specifically.
If you have been denied benefits under your long term care policy due to your benefit triggers, the Iowa Insurance Division offers Independent Review of your company's findings. This service has a $25 fee. If the review comes out in favor of the consumer, the companies are required to follow the results and the $25 fee is returned. If the review is not in favor of the consumer, the consumer can still pursue other courses of action. To request an Independent Review or to get additional information, email or call 1-877-955-1212.
**Please note that the pricing guides are just general examples. The price of your insurance will depend on your specific factors.