Fine Print and Red Tape in Long-Term Care Policies

Many people buy long-term care insurance so they won’t burden family members when they are no longer able to care for themselves, but the process of collecting the benefits can be lengthy and overwhelming. “When insurers stop selling or exit the business, many of them hire these third-party administrators to adjudicate claims, and that is where interpretations don’t seem to be as liberal,” says Jesse Slome, director of the American Association for Long Term Care Insurance. When filing a claim for a loved one, longtime brokers recommend educating yourself on how deductibles work, eligibility requirements, coverage for assisted living facilities, alternate plans of care and documentation to make collecting benefits easier.

The New York Times, 6/7/13