Short-Term Care
Short-Term Care insurance is an alternative to a Long-Term Care policy. It is more for people that significant health issues and/or can’t afford the premiums of a LTC policy.
Short-Term Care insurance can provide up to one year of coverage often without an elimination period deductible for either facility care, home care, or both. While the benefits are limited as compared to a traditional LTC plan, they can help you and your family during stressful health times and allow you more flexibility to address your longer-term needs.
STC policies are typically “pay-as-you-go” premiums. Meaning, you don’t have to come up with a large lump sum to fund the policy, but, if you stop paying, you typically lose any and all coverage you had.
A Short-Term Care policy covers things like:
- Home Healthcare
- Adult Daycare
- Assisted Living: This is usually limited, but can cover some of the costs
- Nursing Home Care
- Hospice: If not on Medicare
Question: Who should consider a Short-Term Care policy?
Answer: Someone who cannot afford and/or qualify for a Long-Term Care policy. You should consider a Long-Term Care policy first and then Short-Term Care if you find that you cannot qualify for or afford a Long-Term Care policy.
Interested in discussing and potentially obtaining a Short-Term Care policy? Then, contact me and let’s talk and find out if there’s a good option for you and your family.
