While the difference in the amount of coverage is pretty small in the short run, in the long haul it can amount to a pretty hefty sum. There are several ways to limit the cost of the inflation adjustment benefit. One of these ways is to is to purchase a policy that stops adjusting after a certain number of years. Another method is to find a policy that stops adjusting when you reach a certain age or benefit amount. The amount of time your policy will be needed to pay for care is call your benefit period.
Policies have benefit periods that range from two years to an unlimited time period.
The amount of time that you are required to pay for your covered services before your insurance policy will start to pay is known as your deductible period. This period usually ranges from 20 days to 100 days. The shorter your deductible period is, the higher your premiums will be. You need to find the middle ground that is right for you. This depends on the assets that you have available to pay for services and how much you can afford to pay in premiums.