Other family members or friends in a nursing home or requiring home health care
Nursing home care versus home health care - same benefit levels for both?
Reimbursement vs. indemnity - recording/keeping/submitting bills and tax/income concerns
Daily benefit amount - same for Nursing Home and Home Health Care?
Same benefits for husband and wife - greater chance of women needing care for longer periods
Waiting/Elimination Period before benefits commence - what can you cash flow support?
Benefit Period - 2, 3, 4, 6 years or lifetime
Inflation protection - Compounded or simple - to keep up with a portion of the increase in medical costs
Optionalbenefits (varies by carrier) - nonforfeiture option (18-40% more in cost - if premium payments stop, a benefit will still be payable up to the total premiums paid), abbreviated payment period (double cost), weekly home health care (weekly versus daily pool of money), Total Home Care which includes caregiving by family members and friends.
What are the eligibility requirements - how many of ADL's - bathing, continence, dressing, eating, toileting, and transferring (generally most carriers require inability to perform 2 of the 6)
Must physician certify you need nursing home care for 90 consecutive days before you could receive home health care (in AARP policy)
Is there waiver of premium for both nursing home and home health care included - when does it commence, i.e., when care starts or when benefits are paid?
Do you expect your income and/or your assets to change over the next 10 years?
