Edmond Consulting Group LLC
Edmond Consulting Group LLC

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Edmond Consulting Group LLC

PO Box 1294

PALMETTO, GA 30268

 

 

Or you can reach us at 

(803) 716-9901

 

You can also use our contact form

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What Is Short-Term Care Insurance

 

The typical Short-Term Care insurance (STCi) policy provides coverage for 1 year or less. For many people, this is a very appropriate and affordable amount of coverage. It is true that some long-term care claims last for many years,however, almost half (49%) of long-term care insurance claims LAST ONE YEAR OR LESS.

 

The majority of policies have a 0-day deductible (Elimination Period) and a full year of benefits. Simply, that means the policy pays on the very first day one qualifies for benefits. Most traditional long-term care insurance policies (about 94%) are sold with a 90-Day Deductible that must be met before benefits are paid.

It is important to know that these policies can pay in addition to Medicare -- something a traditional Long-Term Care Insurance policy is prohibited from doing.

Most Short-Term Care applications have 7-to-10 health questions. If you can answer "NO" to all the questions, you are 95% through the health underwriting process. However, there are policies that have ONLY 2 "YES" "NO" QUESTIONS and can be ideal for people with existing health problems.

 

Who Should Consider A Short-Term Care Policy?

 

  • You (or a spouse) were DECLINED for traditional LTC Insurance.
  • You want a LESS EXPENSIVE option (than traditional long-term care insurance).
  • You WAITED TOO LONG to buy long-term care insurance (cost is now too high!).
  • You are AGE 80 OR OLDER.
  • You are a SINGLE WOMAN (rates for Short-Term Care policies are NOT GENDER-BASED as they are with traditional long-term care insurance).
  • You have a long term care insurance policy and you want to cover the Elimination Period.

The typical person buying short-term care insurance is between the ages of 65 and 74 and has a net worth of less than $500,000.

 

How Much Does Short-Term Care Insurance Cost?

 

  • Typical premium at age 65 -- $105 monthly .
  • Typical premium at age 70 -- $141 monthly option. 

 

Medico Insurance Company Short Term Care insurance

 

Medico Short Term Recovery Care Insurance

 

  • Issue Age 18-79
  • Elimination Period Choose 0, 15 or 30 days 
  • Daily Benefit Amount Options $100 - $300 in $10 increments Pays actual charge up to the selected daily benefit amount 
  • Lifetime Maximum Benefit Period Options 120, 240 or 360 days 
  • One-Time Restoration of Lifetime Maximum Benefit Period 
  • Bed Reservation Benefit
  • Save 10% with a Household Discount 

WHAT CAN POLICIES COVER?


Short-term care insurance policies can vary in terms of what they cover as well as coverage limits.  But, in general, these policies will cover:

 

Home Health Care – YES
Assisted Living Facility Costs – YES
Skilled Nursing Home Stays – YES
Adult Day Care/Hospice Care – YES

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Medico Brochure
medicoguide.pdf
Adobe Acrobat document [568.5 KB]
Medication
Medication MEDICO.pdf
Adobe Acrobat document [2.2 MB]
Declinable
Declinable Conditions MEDICO.pdf
Adobe Acrobat document [31.0 KB]
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