Part A pays for all covered services for the first 20 days and in part for the 21st through the 100th day. Medicaid Payment for Long Term Care Medicaid is the government program now covering the bulk of nursing home costs. It is designed to subsidize financially the individual who cannot afford the cost of the nursing home. Life Insurance with Accelerated Death Benefits Life insurance with accelerated death benefits is life insurance which allows policyholders to obtain some or all of the benefits prior to death under certain circumstances. Accelerated death benefits are usually offered in the form of policy riders, which are special provisions that can be added to policies to expand the benefits otherwise payable.
Some policies cover major organ transplants.
The insured is permanently confined to a nursing home and is usually expected to live less than 6 months. Some companies use less than 12 months to live. Remember, this is a life insurance product with a long-term care benefit. This is not a health insurance product. Private Long Term Care Insurance Long-term care insurance is generally defined as any policy or certificate advertised, marketed, offered, or designed to provide coverage for not less than 12 consecutive months for each covered person on an expense incurred services, provided in a setting other than an acute care unit of a hospital.