From 24/7 Wall St. · Gerelyn Terzo · · 1m 30s
Her 1999 Policy Pays $180 a Day in Nursing Home
A 1999 long-term care policy pays $180 daily in nursing homes but half that for assisted living, with some policies from that era offering nothing.
In brief
A 1999 long-term care policy pays $180 daily in nursing homes but half that for assisted living, with some policies from that era offering nothing. A 1999 long-term care policy pays $180 daily in nursing homes but half that for assisted living, with some policies from that era offering nothing. Originally reported by…
Her 1999 Policy Pays $180 a Day in Nursing Home
A retired school teacher bought a long-term care policy in 1999 that promises $180 a day for nursing home care.
Assisted Living Gets Half the Benefit
Her policy pays half the $180 daily rate for assisted living, which is where she actually needs help.
Some Policies Pay Nothing for Assisted Living
Policies from the 1990s often cover only nursing homes, leaving assisted living with little or no coverage.
Medicare Doesn't Cover Assisted Living
Medicare doesn't cover custodial care like assisted living, which is mostly what the policy pays for.
Policy Definitions Matter
The exact definition of assisted living in her 1999 policy affects whether the facility meets coverage requirements.
Benefit Trigger Requires Qualification
Benefits start only after meeting the policy's benefit trigger, such as needing help with bathing or dressing.
Inflation Protection May Have Frozen Benefit
If she skipped inflation protection, her $180 daily benefit has stayed frozen since 1999, buying less care today.
Check Benefit Before Move-In Day
Families should get written confirmation of the daily benefit for assisted living before moving in to avoid surprises.
The takeaway
A 1999 long-term care policy pays $180 daily in nursing homes but half that for assisted living, with some policies from that era offering nothing.
