As more and more people are
heeding advice about long term care planning and securing long term care
insurance (LTCI) policies, utilization of benefits are increasing as well.
According to the American Association for Long-Term Care Insurance, in 2010, the
nation's 10 leading LTCI companies paid more than $10.8 million in daily claim
benefits - a 53
percent increase since 2007.
However, advisors and
policyholders need to be aware that getting those claims paid quickly and
efficiently requires an organized, proactive approach. For example,
policyholders and their families need to have medical information in order and
should be prepared to provide details and documentation regarding the diagnosis
and doctor's plan of care, as well as information about the caregiver or long
term care facility. The claims process can be difficult to navigate, but
understanding benefit triggers and the accurate completion of claim
forms can go a long way toward having a good experience and avoiding processing
delays come claim time.
At MAGA, we're here to help. To
the extent HIPAA regulations allow, we can provide guidance on the claims
process and tips for tracking down information needed to help communications
with the carriers go smoothly. We have contacts at the insurance carriers and
can provide phone numbers for claims departments. Also, MAGA provides
complimentary policy reviews regardless of whether a policy was purchased
through MAGA. We are always happy to look over a policy to help determine if a
particular claim is payable or to provide guidance on what benefit triggers
need to be met. The LTCI industry continues to evolve, and we can be a helpful
resource as requirements and types of policies change.
MAGA has helped thousands of clients file successful claims over
the years. We know how important it is to get claims paid quickly, especially
for families that have made initial upfront payments for caregiving services.
We can help you and your clients make sure that nothing is overlooked, so that
the expectations set at the time of the initial policy purchase are met when
the time comes to collect benefits. For assistance with a claim, or for more
information about claims filing, please contact us at email@example.com or 800-533-6242.
Murray Gordon, CEO and Founder,
Call Murray at 800-533-6242,