AARP Short-Term Care Insurance from Medico offers policyholders the ability to choose care from five options: nursing home care, assisted living care, home healthcare, adult daycare, and hospice care. This Short-Term Care insurance plan also offers two additional benefits as part of the base plan: household assistance and care coordination services.
This benefit will reimburse policyholders up to $500 for services they hire to complete routine household tasks while they receive care at or away from home. These services might include help with laundry, cleaning, transportation, or lawn care.
This benefit will reimburse policyholders up to $500 for care coordination services they solicit from an expert when making decisions about when and where to receive care. With five options for care services, it’s important to fully understand all the options so they make the right choice for their specific situation. This benefit helps ensure policyholders get the best value from their Short-Term Care insurance policy.
Applicants must be between the ages of 50 and 79 to qualify for AARP Short-Term Care Insurance from Medico.
Yes, AARP Short-Term Care Insurance from Medico is available exclusively to AARP members.
AARP Short-Term Care Insurance from Medico provides additional coverage for expenses that may not be covered under Medicare. This plan can help protect policyholders from unexpected healthcare expenses so they can maintain their financial well-being.
During the application process, applicants will be asked to answer a series of medical questions and provide a list of the prescription medications they’re currently taking. Some medications and health conditions may make applicants ineligible for this insurance, but not all medications and health conditions will prohibit them from being covered.
AARP Short-Term Care Insurance from Medico is available for a shorter duration: 120, 240, or 360 days, which makes it the ideal coverage for recovery from an illness or injury. It also helps cover the cost of care while policyholders and their loved ones plan for future care.
Long-Term Care insurance plans often have long elimination or waiting periods, but this Short-Term Care insurance plan offers elimination periods of 0, 15, or 30 days. If policyholders have a Long-Term Care insurance plan, they can use their Short-Term Care insurance plan benefits to cover expenses during the Long-Term Care insurance plan’s elimination period.
Premiums for Long-Term Care insurance plans tend to be more expensive, but AARP Short-Term Care Insurance from Medico may be a more cost-effective solution.
Applicants may qualify for AARP Short-Term Care Insurance from Medico, even if they’ve been turned down for Long-Term Care insurance coverage.
To qualify for benefits, policyholders must experience either loss of functional capacity in at least two activities of daily living (ADLs) or cognitive impairment. ADLs are eating, dressing, toileting, transferring (getting out of bed or a chair), continence, and bathing. Cognitive impairment includes confusion, poor motor coordination, short-term or long-term memory loss, identity confusion, or impaired judgment.
Yes, if applicants live in a household with another person who is 18 years old or older, they will receive a 12% discount.