Long-Term Care Insurance
- Qualified employees, their eligible dependents (spouse and children ages 18 through 25), retirees, parents and parents-in-law are eligible to enroll in long term care coverage. This insurance covers certain services required by individuals who are no longer able to care for themselves without the assistance of others. Natural aging, a serious illness, or an accident may bring on this need.
- You and your eligible family members may apply for long-term care coverage at any time, but will be subject to medical underwriting review for approval to enroll. Call MedAmerica at 1-866-615-5824 or visit MedAmerica on the web to obtain enrollment information.
- Services covered include nursing home care, assisted living, home health care, home care, and adult day care. Benefits are available through different options based on a daily benefit amount for either a three-year or five-year coverage period. The benefits are also available with or without inflation protection. The inflation benefit protects the value of coverage you buy today to offset future increases in the costs for long-term care. If purchased. your benefits will increase at 5 percent compounded annually.
- You must pay 100 percent of the premium if you choose this coverage. Premiums are based on age at the time of enrollment. So the younger you are when you apply, the lower your monthly premium will be. You may choose to have the premium taken from your payroll check or may opt for a direct bill arrangement with MedAmerica. Direct billing or payment by bank draft or credit card can be set up on a quarterly, semi-annual, or annual basis.
- Why is Long-Term Insurance Important?
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Knoxville, TN 37996