Getting Your Long-Term Care Insurance Reimbursement

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How Long to Get Reimbursed Through Long-Term Care Insurance?

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As long as your aging parent continues to meet the eligibility requirements and has available benefits, he or she should qualify for reimbursement for long-term care costs. The timeframe for reimbursement generally depends on the provider and the terms of the policy. Continue reading to learn about how long it takes to be reimbursed for long-term care insurance and how to manage the challenges while waiting for payment.

Elimination Period

Most long-term care insurance policies require paying for expenses before the reimbursement check arrives, which is known as an elimination period. The timeframe for the elimination period varies from provider to provider. The most common wait times are 30 days, 60 days, and 90 days. However, it’s possible to wait longer. If waiting for reimbursement will be a financial strain on your family, choose a provider that offers policies with short elimination periods but adequate benefits. 

In addition to finding the right long-term care insurance provider, it’s also important to work with a high-quality home care company. Families looking for top-rated Albuquerque at-home care providers can reach out to Home Care Assistance. From respite care to specialized Alzheimer’s, dementia, stroke, and Parkinson’s care, there are many ways we can make life easier for seniors and their loved ones.

Receiving Payment

Once the elimination period has expired, your loved one should receive reimbursement for all qualified claims. However, the check could take up to 30 days to arrive. For example, if your loved one’s reimbursement period is 60 days, it could be up to 90 days before he or she receives a check. Keep in mind many policies have a daily limit, which means your parent won’t be reimbursed for expenses that exceed the daily amount. Check with your loved one’s provider to see what is covered under the policy, how much the policy pays each day, and what the lifetime benefit limits are.

Submitting a Claim

To speed up the time for receiving a reimbursement check, make sure the claim is submitted correctly. Most long-term care insurance claims are denied due to filling the forms out incorrectly or not including all of the necessary documentation. When submitting your loved one’s claim, make sure you submit as much evidence as possible, including a physician’s statement, medical bills and paperwork, and other forms detailing that the treatment being requested is deemed necessary by a qualified medical professional. To be certain your loved one hasn’t left out any information, you can speak with the insurance company about required documentation. Make sure to send the claim and all evidence via certified mail, as this allows you to track the packages and verify the documents were delivered. 

A trusted in-home caregiver can provide transportation to the doctor’s office so your loved one can obtain the necessary medical information. If your senior loved one needs hourly or live-in care, Albuquerque Home Care Assistance can help. Our caregivers can assist with exercise and mobility, prepare nutritious meals, provide timely medication reminders, and help with a wide array of other important daily tasks.

Financial Options

To help with some of the expenses associated with long-term care, see if you or your loved one qualifies for local, state, or federal programs. Some organizations offer assistance to seniors in need, and they might provide grants, as well as meal, transportation, and cleaning services at a discounted rate or free of charge. Another option is to apply for federal tax deductions for long-term care insurance and putting the savings in the bank in the event your loved one needs to file a claim in the future. These deductions are generally available to non-business owners and individuals who itemize their medical expenses.

In-home care agencies often become the Assignment of Benefits for their senior clients so they carefully stay within their insurance budget and manage all insurance transactions for them. However, in some cases, the clients don’t need to pay the home care company and then wait to be reimbursed by their insurance provider. Other local agencies ask for payment from the senior client (or the family of the client) at the time of service, then have the client wait for the insurance reimbursement, which can be very challenging for seniors to manage financially.

At Home Care Assistance of Albuquerque, we can manage the claims process entirely. Though this is always the client’s choice, when we manage the processing, our clients don’t have to wait 30 to 90 days to be reimbursed from their insurance. Families appreciate the option of just receiving the invoice documentation and not needing to track and pay us separately. We “financially float” the client for long payment periods issued by the insurance companies.

It’s crucial to know if home care services are covered under your insurance policy so you can better manage your finances and ensure your loved one receives the care he or she needs and deserves. Not every senior has the same care needs, which means they don’t all need the same home care services. Albuquerque families can rely on Home Care Assistance to provide individualized care plans to meet your elderly loved one’s unique care needs. Our holistic Balanced Care Method was designed to help seniors focus on healthy lifestyle habits such as eating nutritious foods, exercising regularly, and maintaining strong social ties, and our Cognitive Therapeutics Method offers mentally stimulating activities that can stave off cognitive decline and delay the onset of dementia. To learn more about our premier senior care plans, schedule a call with one of our friendly Care Managers at 505-798-0800 today.  

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