Will 50 Days of Skilled Nursing Facility Coverage Protect Your Clients?
Medico's new hospital indemnity policy offers a skilled nursing benefit rider that pays $100, $150, or $200 per day up to fifty days when your client is confined to a skilled nursing facility. Will that benefit adequately protect your clients?
According to research conducted by the Center for Medicare Advocacy, the average length of stay in a skilled nursing facility is 26.4 days. Therefore, the 50-day benefit period in the hospital indemnity policy skilled nursing benefit rider is more than most clients will likely use. The price is very reasonable at $8.25 per month with a potential cash benefit of $5,000.
If your clients feel they need more coverage beyond the 50 days provided by the hospital indemnity skilled nursing facility rider, you can talk to them about Medico's short-term recovery care policy. This policy offers a lifetime maximum benefit period of 120, 240, or 360 days for nursing facility confinement, assisted living facility confinement, home health care, adult day care, or hospice care.