Payer launches long-term care plan
Payer launches long-term care plan
Travelers Insurance in Hartford, CT, recently announced the introduction of Travelers Independent Care, a tax-qualified long-term care plan that focuses on community-based care benefits.
The payer designed the plan to allow members to receive expanded home health benefits so they can remain independent at home as long as possible. In addition to expanded home health benefits, the plan includes:
• a 5% simple inflation protection added to the existing 5% compound inflation and the cost of living inflation options;
• reimbursement for alternative services, devices, and other prescribed care outside of those specifically covered in the contract, if those services allow insured to stay at home;
• caregiver training of a family member or friend of the insured;
• enhanced discounts when both spouses apply and are issued policies;
• copayment elimination for all covered expenses for home and community-based care;
• expansion of supplemental benefits to 50 times the nursing facility care daily benefit amount for home modifications, during the lifetime of the policy.
• permission for insureds to employ an independent care coordinator rather than one assigned by Travelers.
Travelers Independent Care has been available since January through independent Travelers agents, its subsidiary Travelers NetPlus, and Smith Barney Financial Consultants.
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