The company is a subsidiary of Genworth Financial, leveraging Genworth’s 40+ years of experience and one of the largest historical claims experiences in Long-Term Care Insurance in the country.

Initially operating as a care management and quality-evaluation division, CareScout was formally separated into a stand-alone subsidiary in the 2023–2024 period. In 2025, it became the face of Genworth’s re-entry into the LTC Insurance market with the launch of CareScout Care Assurance.

CareScout distinguishes itself by operating two distinct business lines:

1. CareScout Quality Network: A standards-based network of home care, assisted living, and nursing home providers (similar to a preferred provider network).
2. CareScout Care Assurance: The insurance product itself.

The company’s mission is to ‘reimagine aging care’ by combining insurance coverage with a system that rates the quality of care providers and adds hands-on support for families—all within one platform.

Learn more about Genworth products - Genworth Financial Long-Term Care Insurance Review.

Financial Strength and Ratings

Financial stability is the primary concern for any LTC purchaser. CareScout has a unique financial structure designed to insulate new policyholders from the historical challenges of its parent company.

The Reinsurance Structure

CareScout Care Assurance is issued by CareScout Insurance Company. However, because this is a newly established shell with limited financial history, the financial security of the policy is heavily supported by a reinsurance agreement.

• Reinsurer Rating: A+ (Superior) by A.M. Best (as of Jan 25, 2025).
• Role: The reinsurer acts as a financial backstop for claims.

Genworth Financial (Parent Company)

CareScout is a subsidiary of Genworth Financial (NYSE: GNW).

• Assets: Genworth maintains $14–15 billion in assets within its LTC business units.
• Claims Paying: Despite legacy issues, Genworth continues to pay over $6 billion annually in LTC claims.
• Legacy Context: Genworth manages the largest active block of older LTC policies in the U.S. These legacy policies have been subject to regulatory oversight and premium increases due to pricing assumptions made in the 1980s and 90s. These assumptions, complicated by the interest rate crash and other factors, created problems for Genworth.

Today's Long-Term Care Insurance is priced based on current regulations and considers the low-interest-rate environment and other issues that older legacy products did not.

Many experts suggest that CareScout’s financial strength should be judged by its reinsurer's strength rather than the stand-alone history of the CareScout brand or the legacy struggles of Genworth. The A+ rated reinsurance offers a layer of security that Genworth’s legacy products do not possess.

Key Features & Benefits 

One of the product's biggest features is the CareScout Quality Network. Unlike traditional LTC Insurance policies that act purely as a "checkbook" to reimburse care, CareScout Care Assurance is integrated with the CareScout Quality Network.

• Function: A standardized rating system for providers, similar to CMS Star Ratings but broader.
• Goal: To help families find vetted home care agencies, senior living communities, and nursing facilities.
• Support: Includes a "Technology + Human Support Model" that utilizes care advocates to help families navigate the aging process.

The goal is to help the insured keep their future long-term care costs lower, and make it easier for the family to process the claim, access benefits, and find quality long-term care providers.

Other features:

• Age range: Ages 40–65, actual age, not closest age.
• Rate classes: Preferred and standard.
• Daily Benefit: The applicant can select one of four initial daily benefits (not monthly benefits) $50, $100, $150, or $200 a day.
• Comprehensive: The policy will pay benefits for all types of long-term care services, including in-home care, adult day care, assisted living, memory care, and nursing home.
• Reimbursement: The policy will pay up to the maximum daily benefit based on actual bills received. If the policyholder does not use the maximum available each day, the remaining benefits stay in the benefit account and continue to grow with inflation, if selected.
• Elimination Period: This is a deductible based on days, either 90 or 180 calendar days, once in a lifetime. Once you meet the benefit trigger, the clock starts ticking regardless of whether the policyholder received paid services every single day.
• 0-Day Home Care Waiver: An optional rider that, if selected, waives the elimination period entirely for home care. This means if the policyholder needs care at home, benefits begin on Day 1. If you enter a facility, like assisted living, the standard 90 or 180-day wait would still apply.
• Partnership: At the moment, the product is not filed as a partnership policy in any state. The company expects to do so in the near future.
• Shared Spousal Benefits: The policy does not offer shared spousal benefits as an option.
• Network Access: Policyholders get access to the CareScout Quality Network of home care agencies and facilities.
• Care Advocates: A dedicated team helps families navigate the emotional and logistical complexity of finding a provider.
• Home Assistance: Covers up to 90 days of your daily maximum benefit for services like home modifications, medical alert systems, and caregiver training—so you can stay safe and independent in your own home.
• Respite Care: Short-term care that gives an informal friend or family caregiver a break. The policyholder may use up to 90 days of their daily maximum benefit each calendar year.
• Bed Reservation Benefit: Covers up to 90 days of your daily maximum benefit each calendar year to reserve your bed in a facility while you are temporarily away, like being in the hospital or visiting family during the holidays.
• Hospice Care: Allows the policyholder to use their benefit for palliative care services at home or in a hospice facility.
• Alternative Care Benefit: If you, your healthcare provider, and CareScout Insurance Company agree, the policyholder may receive alternative care services, including services not yet invented and not specifically listed in the policy.
• Couples/Partner Discounts: Available for married couples or domestic partners.

Benefit Trigger with CareScout Long-Term Care Insurance

The benefit eligibility triggers are the same as those for any other tax-qualified Long-Term Care Insurance policy.

To qualify for CareScout Care Assurance benefits, a licensed healthcare practitioner must certify that you are chronically ill, meeting the federal definition of long-term care.

You are considered chronically ill if either:

• You are unable to perform at least two Activities of Daily Living (Bathing, Continence, Dressing, Eating, Toileting, or Transferring) without substantial assistance for a minimum of 90 days, or
• You require substantial supervision to protect yourself from threats to health and safety due to severe cognitive impairment.

Long-Term Care Insurance companies use a practice called underwriting to determine eligibility for coverage. If they deem the risk too high, the application will be denied. Applicants who are approved are sorted into rate classes (preferred or standard.

Filing a Claim with CareScout

CareScout emphasizes Genworth’s long-standing expertise in handling long-term care claims. Industry experts often regard Genworth’s claims process as one of the best in the business, and CareScout policyholders will rely on the same experienced staff and procedures.

Independent assistance with a Long-Term Care Insurance claim is also available. LTC News has partnered with Amada Senior Care, which offers free, no-obligation assistance with claims. They will work with the CareScout team to process the claim, at no cost or obligation.

Amada Senior Care is a leader in in-home caregivers with locations and connections nationwide.

Shopping for Long-Term Care Insurance: What Are Your Best Options for Coverage?

Ultimately, your best option for Long-Term Care Insurance will depend on how many benefits you want or need and what you can qualify for based on your age and health.

A Long-Term Care Insurance Specialist can give you a better idea of what to look for in a policy and can recommend the best company to apply for. 

CareScout's extensive experience in both LTC Insurance (through its parent company, Genworth) and the CareScout Care Network makes it a product worth considering.

For help with policy design, LTC News also offers the most comprehensive Cost of Long-Term Care Calculator, which provides the current and projected costs of long-term care services where you live, or where you expect to live in the future.

In addition, LTC News also offers a Care Directory containing thousands of long-term care providers across the country. This tool can help you find a high-quality care option close to home.