Message Font: Serif | Sans-Serif
No. of Recommendations: 0
I sometimes work for clients who have Long Term Care insurance policies. Often, these policies have dollar limits to payouts, rather than specific time limits.

One of my clients, a couple, did some research into this, and found that their policy covered care by state-licensed individuals - meaning CNA's like myself.

Many other LTC policies, including those offered through the AARP, also have that same provision that covers the direct use of licensed CNA's.

For reimbursement, the client simply submitted a claim form indicating my license number. The insurance company paid the couple directly, and from that payment they then paid me our negotiated rate. That rate was lower than they would have paid through an agency or other corporate provider.

They would not be able to do this with unlicensed caregivers, but since CNA pay rates are usually the same as those paid to unlicensed providers, and considerably less than rates paid to corporate providers of these services, there was an opportunity for them to greatly stretch coverage.

I would add some points:

1. Clients should use legitimately licensed, self-employed caregivers to prevent 'employer liability' issues.

2. Clients should check that the CNA they use has her own malpractice insurance policy.

3. Follow the normal safe-guards that would apply to any home care agency or individual, including reference checks.

4. Whether considering licensed caregivers, agencies, nursing homes, or assisted living facilities, clients should educate themselves as to signs of quality care.

By checking into their actual LTC policies, clients may find simple ways to stretch their benefit dollars.

Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.