Why Short-Term Care Insurance is a Growing Trend

Why Short-Term Care Insurance is a Growing Trend

Shorter hospital stays and the flexibility of in-home healthcare have helped boost short-term care's popularity

Increasingly in the United States, hospital stays are becoming shorter. Compared to similar countries, the length of inpatient stays in U.S. hospitals is well below the average. Because of this, Americans are able to spend less time in hospitals; and with the rise in the number of short-term rehabilitation or skilled nursing care facilities, recovery and rehabilitation can occur in a more home-like environment.
 
You may be eligible for Medicare coverage in a Medicare-certified nursing facility if you’re admitted within 30 days of an inpatient hospital stay that was at least three days. Also, you must require skilled care, such as physical therapy, nursing services, or other types of therapy. Provided you meet the criteria for Medicare, nursing home costs may be partially covered for up to 100 days: the first 20 days will be at no cost to you, but the next 80 days will require a copayment of more than $150. After the 100 days are up, if you still require care, you will be responsible for all costs out-of-pocket.

Care where you are

If you suffer an injury or face a sudden illness, you may find you’re not as capable as you used to be, even if it’s just during your recovery. But your short-term healthcare needs and temporary loss of some functionality shouldn’t mean the loss of independence or your lifestyle. Whatever the circumstance, in-home healthcare options provide a lot of flexibility and benefits without sacrificing the comfort of familiar surroundings.
 
In-home care can take many forms and serve many purposes. You can hire a home healthcare worker to come to your home to help you with activities of daily living (ADLs). Home healthcare visits can be customized to meet your needs, so you can have someone with you for a few hours per week or 24 hours per day.
 
Short-Term Care insurance can help meet your needs wherever you prefer to receive care. You also have the flexibility to use options, such as adult daycare, to ensure you (or those you care for) can receive all necessary care. And the benefits with Short-Term Care insurance don’t have to be paid out for consecutive days — if you only need assistive care two or three days a week, that can stretch your benefits even further.
 
If you’d like to learn more about how AARP® Short-Term Care Insurance from Medico®, click here to get a quote or receive additional information.

Photo credit: iStock

11-26-19