The Eighth Circuit Court of Appeals recently upheld that a Long-Term Care Insurance Company did not have to pay benefits for a policyholder for services she received in a Registered Residential Living Center, otherwise known as an Independent Living Center. The Long-Term Care Insurance company argued that the Registered Residential Living Center did not meet its requirements as a licensed Assisted Living Facility and therefore, were not obligated to provide Long Term Care coverage.  To read the case, click here.

 Things to know about your LTC Insurance:

Do you know what your Long-Term Care Insurance provides for coverage? It is important to be aware of what your Long-Term Care Insurance covers and any specific requirements for coverage. For instance, some policies only cover Nursing Home Care, while others provide additional benefits like adult daycare or home care services. Be mindful of what your insurance policy offers for daily benefits, but also know specific benefit periods and any elimination periods. If your policy states you must be admitted into a Long-Term Care Facility for a month before any benefits will be paid on your behalf, that is important to know and to plan for.  Make sure you also know if there are any limitations associated with your long-term care policy, such as it will only cover for a certain duration or only cover up to a certain dollar amount.  It’s important to plan ahead so that you can do elder law planning that compliments the insurance or financial planning you have in place to make sure you and your loved ones are protected.