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Carrying
out Decisions
by Marlene S. Stum, Ph.D. University of Minnesota
Myth:
There is little need to comparison shop for long
term care policies.
- FACT:
It is very important to check with several companies
and agents before buying a policy. Compare benefits,
the type of facilities you have to be in to
receive coverage, the limitations of coverage,
elimination periods, and premiums. If you are
offered long term care insurance as a workplace
benefit, take time to compare the plan and premiums
with policies sold directly to individuals (and
vice versa).
Myth:
All states have the same policies and practices
regarding Medicaid and long term care services.
- FACT:
Medicaid policies differ significantly from
state to state as do long term care programs
and services. It is important to contact your
state or county Medicaid office regarding Medicaid
and long term care services.
Myth:
All states have the same policies and practices
regarding long term care insurance.
- FACT:
Long term care insurance is regulated by the
state, not federal government. This means that
all 50 states have different regulations and
consumer resources. Contact your state office
dealing with long term care insurance and ask
for information.
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