Leonard J. Mankin LTCI is offered as a stand-alone product or as a rider to life insurance. Also, benefits received under these policies are excluded from gross income. This is especially likely for benefits received in an ALF that are considered room and board and not reimbursement of medical expenses. This is not the same as the Elimination Period discussed below. The insured requires substantial supervision to protect the individual from threats to health and safety due to severe cognitive impairment.
Comprehensive policies pay benefits for care in any setting.
Facility-only policies pay for care in an ALF and nursing home. For single clients with no support in the community, home care can be prohibitively expensive and the facility-only policy with a reduced premium may be more affordable. Home care only policies ignore reality. The catastrophic event occurs when a facility stay is required. The major carriers do not even offer home care only policies.