Short Term Care insurance, sometimes called ‘Recovery Care’ protection, addresses significant financial risks facing individuals today. Short-term care insurance policies offer benefits for many different types of health care and aging needs. They typically are purchased by individuals to cover gaps in Medicare coverage, or as an alternative to traditional long-term care insurance protection.
As the name implies, short-term care insurance policies are designed to provide benefits for just a few days or up to 360 days.
Short-term care insurance policies can vary in terms of what they cover, as well as coverage limits. In general, these policies will cover:
✔ Home Health Care
✔ Assisted Living Facility Costs
✔ Skilled Nursing Home Stays
✔ Adult Day Care/Hospice Care
Some plans will pay for home health care aides, general and skilled nursing care and may even offer prescription drug benefits and other options.