Tag: LongTerm Care Insurance

If you have insurance, you need to know about the “notice-prejudice” rule!

Every insurance policy requires that you give notice of your claim for benefits to the company before benefits can be paid.  It doesn’t matter if the claim is for medical services, disability benefits, life insurance, fire, flood, theft, etc. Obviously, notice and information about your claim is necessary before the insurance conpany can process and pay the claim. Policies […]

Your Insurance Claim Will Probably Be Denied!

On January 13, 2017, the Los Angeles Times published a column entitled Healthcare insurance hell: If at first your claim is denied, try, try again The article describes on insured’s extreme difficulty in obtaining approval for treatments of her multiple autoimmune disorders that cause chronic pain, migraines, extreme dizziness and debilitating chronic fatigue. As the […]

Long-term Care Insurer Fined Over Failure to Pay Timely Claims

Recently, the Commerce Department of Minnesota fined Bankers Life and Casualty Company $20,000, as a result of complaints about the long term care insurer’s failure to pay timely claims and pay interest.

“Consumers invest in long-term care insurance so that when the time comes, they will have coverage for care expenses. The department is here to make sure that consumers receive all the benefits that their insurance company should be covering,” Mike Rothman, the Minnesotan Commerce Commissioner, said in a statement.

Furthermore, according to a consent order issued on March 11, a Commerce Department approved independent reviewer must review more than 100 past long-term insurance claims to determine if they were handled adequately.

According to a statement issued b the Commerce Department, “if any claims were improperly decided, the company is required to pay claimants any additional money owed, along with interest. All payments are required to be made within 30 days of the determination that an additional payment is due.”

We at Kantor & Kantor know only too well the difficulties members face when they try to get their long-term care benefits and are payments are delayed, or worse, denied. If you or someone you know is having trouble getting benefits paid, please contact us for a free consultation on 888-569-6013.

Have You Thought About Aging In Place? Trends in Long-Term Care

Aging in Place,” an increasingly popular trend in Long-Term Care (LTC), has the potential to provide the aging population with independence, control over care choices, and all the comforts that come with living at home. When illness suddenly strikes, or health decline naturally, changes may be necessary to ease everyday living.

When we think of the hosing for an aging population, we often think of assisted living facilities, nursing homes, and a loss of autonomy. New trends, however, encourage utilizing the concept of “Aging in Place”, or remaining in the home with outside support for physical, emotional, and recreational health.

Becoming dependent upon others for support can be a huge financial hardship for the aged and their loved ones, especially for those who do not have Long-Term Care insurance. Many people believe that Medicare will provide them with the financial and caregiving support they need, yet Medicare only pays for “medically necessary care” in a skilled nursing facility with maximum coverage of 100 days. Having Long-Term Care insurance can lift financial burdens associated with aging, and increase choices for the types of care available.

Depending on the language of the LTC insurance policy, you might be able to continue living in your home to “age in place.” Not all policies are the same, however, and you should understand the differences in coverage. Oftentimes, older policies have more restrictive coverage – providing either “Nursing Home” benefits (which pay for room and board) or “Home Health Care” benefits (which pay for a qualified Home Health Care Provider). Newer policies, however, tend to provide benefits for both types of care. You will need to take a close look at your policy to determine the type of benefits provided. You can (and if you don’t have it, should) request a copy of your policy from your insurance company or employer (for group policies).

Having the option to live at home, despite age related illnesses, can be an incredibly comforting. If you think aging in place might be right for you, but you need help making sense of your Long-Term Care insurance policy, contact Kantor & Kantor for a no cost consultation.

We understand, and we can help.
(800) 446-7529