US Department of Health and Human Services reported on an investigation of long term care insurance claims filed and found that 97% of the people filing claims reported a satisfactory outcome with their claim. A common misconception is that it’s tough to use your long term care insurance policy but this study brings light to the steps the insurance industry has taken to make the claims process as smooth as possible. The study also found:
About three-quarters said that it was either easy or neither easy nor difficult, and one-quarter found filing the claim difficult. When looked at by service setting, a higher percentage of nursing home residents found filing a claim difficult (31%), than those receiving care at home (22%) or in an assisted living facility (21%). The most common reasons given for why it was difficult to file a claim was that it took longer than expected to obtain benefits and that there were problems understanding and filling out the claim forms.
This is a good sign to a growing line of insurance as more and more baby-boomers begin to retire and buy long term care insurance it’s nice to see the companies treating the customers fair. We work with most all the blue-chip carriers and will shop the entire market to find you the best deal. If you’d like to learn more please take a moment and simply fill in this form and we’ll mail you your info. Thanks for reading our long term care insurance blog. We really appreciate it.
