“‘Short-Term Care Insurance’ Faces a Name Fight,” by Allison Bell, ThinkAdvisor

“Insurance industry players disagree about what regulators should call the product now (often) known as ‘short-term care insurance.’ Agents and brokers use the term to refer to products that cover nursing home care, home health care and other forms of non-acute health care for periods of less than 12 months. Some insurers stick with that product name. Others call the product ‘recovery care insurance” or “convalescent care insurance.’ State insurance regulators at the Senior Issues Task Force have dubbed the product ‘limited long-term care insurance’ in drafts of a model law and a model regulation. Now five commenters from insurance companies have weighed in on the models — and the insurance company reps all have different ideas about what the product name should be.”

LTC Comment (from Stephen A. Moses, Administrative Coordinator, Center for Long-Term Care Reform):

Back in the day (1982 for me) we called care that lasted more than 90 days “long-term care.” By that standard, insurance coverage lasting less than a year but more than 90 days would still be long-term care insurance. “Short-term care,” likewise, implies care lasting less than 90 days. So perhaps the term “limited long-term care insurance” is apt. But a rose is a rose is a rose. Just about any protection is better than none.

Short-Term Care Insurance’ Faces a Name Fight

#short-term
#goldencareagent