Nearly everyone who receives care today receives that care either at home or in some type of facility–care that is provided by loving, compassionate people.
I’m quite certain that 30 years hence, care will still be provided by loving, compassionate people either at home or in a facility–making the point of this article moot.
Since HIPAA standardized long-term care benefit triggers in 1996, nearly every LTCi policy pays benefits for care received at home or in a facility.
Over 200,000 policyholders receive over $7 billion each year in long-term care insurance claims benefits. And a federal audit of LTCi claims practices concluded that LTC insurance is working.
Buying a long-term care policy because it has the “alternate plan of care” benefit is kind of like buying a car because it has “fuzzy dice” hanging from the rear view mirror. In other words, it’s meaningless.
Just be sure to buy a policy that has good home care benefits and facility benefits. Don’t worry about the benefit triggers–they were standardized by HIPAA in 1996.
To learn more about the federal gov’t’s audit of LTCi claims practices go to:
Scott A. Olson