Staying Fit
In this story
Time to collect • Steps to take • Elimination period • File a claim • Claim denied? • Get help
If your parent or other loved one bought a long-term care insurance policy, they paid years of premiums to one day cover these sizable costs.
When that day arrives, it usually comes down to you as the caregiver to collect.
“It’s a terribly stressful time. You’re dealing with an aging parent on top of everything in your own life. The last thing you want to do is fight with an insurance company,” says Jesse Slome, director of the American Association for Long-Term Care Insurance (AALTCI).
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The insurance claims process does take some work. But by understanding how to use long-term care insurance, you get through it much more smoothly.
What to do when you’re ready to file a claim
Your first step: Find your loved one’s long-term care insurance policy. If your loved one can’t tell you where they bought coverage, check bank accounts for past premium payments and mail for a bill or letter from an insurance company.
Take note of when premiums are due and how they’re being paid. You’ll need to continue paying them so your loved one’s policy doesn’t lapse.
Long-term care insurance
Once you’re in touch with the company, you can request a copy of the policy. This 20- to 30-page contract spells out what is covered and for how much.
It will lay out exactly when a claim can be filed and for what services, such as whether it covers in-home care options or only a nursing home.
The contract should list contact information for the insurance company’s claims department. You can call and talk to an agent about your loved one’s coverage.
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