Patient must pay private rates. Before Buying a Nursing Home Policy Shopping around for the best policy is especially Important when looking for nursing home insurance. The coverage is relatively new, and insurance companies still are trying to figure out the right premiums to charge for benefits offered. Benefits and costs vary widely between companies. Skilled and intermediate care are needed for reasonable protection.
Custodial care is optional if it is affordable.
The policy should provide at least six months to one year of coverage. Some will pay the same amount for both. Others pay less for intermediate care. Most policies begin to pay on the first or the 21st day the patient is in the nursing home following hospitalization of at least three days. A few policies start paying on the 101st day.