Long Term Care

Reimbursement Long Term Care Insurance

Reimbursement long term care insurance policies are the most common type of policies sold. They pay the exact expenses up to your daily, weekly or monthly benefit amount. Depending on your policy, the insurer may directly pay the bill or you may have to pay first and then be paid by the insurer. If there is a remainder, that money is kept in the pool to make your benefits last longer.

Reimbursement LTCi Example 1:

You have a monthly benefit amount of $4500 and your facility bill is $3800. Your insurer will pay the $3800 bill and the remaining $700 will be left in your benefit amount pool.

Reimbursement LTCi Example 2:

You have a monthly benefit amount of $4500 and your facility bill is $4700. Your insurer will pay up to your benefit amount ($4500) the remaining $200 is your responsibility to pay.

Read about Indemnity LTCi»