Limitations of Health Insurance and Medicare
Health insurance and Medicare are not as comprehensive as most of us think. Even
the highest-quality plans (both group and individual) and Medicare provide Acute
Care, limited Extended Care, and NO Custodial Care (you can find this in your
policy under "General Exclusions".)
Health insurance and Medicare are designed to cover relatively
inexpensive, short-term needs such as office visits and drug co-pays. And they
also pay for serious, relatively expensive procedures like surgeries.
Medicare covers Primary Skilled Care as follows (2010 Medicare
• For the first 20 days, Medicare will pay 100% of costs
• For days 21-100, it will pay all but $146 (which is covered by Medicare Supplements)
• For days 101+, Medicare pays nothing toward the costs of long-term care
Only long-term care insurance is designed to pay for the type of
extended care often needed after serious injuries, illnesses or operations, or
as a natural result of aging.
These issues are important to understand, and they can be complex. We encourage you to contact our long-term care insurance specialists at 888-247-5905.