Aetna only offers limited benefit plans which are not traditional long-term care policies. However, they can provide a solution for many people. There are differences between the policy language and benefits between companies that offer Long-Term Care Insurance although the major benefit options are similar. However key differences do exist. It is important to know and understand the differences between Aetna and other companies.
Aetna offers several limited duration policies with expanded underwriting guidelines compared to policies offered by traditional long-term care insurance companies. Aetna markets these policies as an affordable solution for people who may suffer from some chronic health issues, or who may be older and outside the age ranges of traditional plans, or who are looking for some extended care coverage at a lower cost. These policies can also be added to an older existing long-term care policy to provide additional benefits at a low cost.
As a major name brand in the insurance industry, Aetna provides quality options to address the costs and impact that extended care places on American families.
The benefit features include:
- Facility Daily Benefit from $10 to $300 a day
- Weekly Homecare Benefits from to $1200 a week
- Facility Benefit Periods from 90 days to 360 days
- Homecare Benefit periods from 13 to 52 weeks
- Homecare Only Plan Available
- Elimination Periods of 0, 20, and 100 days
- Hospital Indemnity Benefit
- Bed Reservation Benefit
- Restoration of Benefits
Since Aetna policies are not a traditional long-term care policy they do not certify as a partnership policy under state and federal law.
Get more details on the partnership program by finding your state on the LTC NEWS MAP. You can get the current cost of long-term care services, the availability of partnership plans and tax incentives by clicking here.
Significant premium differences exist between companies for the exact same benefits. Long-Term Care Insurance premiums are calculated based on your selection of benefit levels you wish to have in place. Premium calculations are also based on your age and health at the time of application. Plus, you may qualify for discounts which might be available.
Every company has their own underwriting rules which determine insurability and rate class. An experienced Long-Term Care Insurance specialist will understand these underwriting rules when helping you select the best company and policy options.
You can find a qualified specialist who represents the major insurance companies which offer these products by clicking here.
Keep in mind, numerous state and federal regulation impact Long-Term Care Insurance. However, options and benefits do vary from company to company. Be sure to seek the assistance of a qualified Long-Term Care Specialist to compare the features, benefits, and costs of each policy.
Since your health is a primary consideration in determining your eligibility for coverage it is always best to start planning prior to retirement when health is usually better. A Long-Term Care Specialist will ask you a number of questions about your health in order to make the appropriate recommendation.
Please note: Since every company has different underwriting rules you could be eligible with one company and not another.
Because Long-Term Care Insurance is custom designed you can design the plan to fit your specific needs, concerns and budget. A specialist will help you design your plan to address your concerns. Generally, you can design almost any plan, to:
- Safeguard income and savings
- Protect the lifestyle of your spouse/partner
- Provide options for quality care
- Reduce the stress and burdens otherwise placed on family members
- Give your adult children time to be family
- Provide a legacy for loved ones
State variations may apply.
- Long-Term Care Insurance
- Disability Insurance