Short-Term Recovery Care Insurance

It’s usually difficult to plan for the unexpected, but Short-Term Recovery Care insurance makes it easier to prepare for unforeseen injuries or illnesses. You’ve likely heard about long-term care insurance, but you may be surprised to discover that a Short-Term Recovery Care plan could be a better fit for you. To help you decide if that’s true, we’ve outlined what Short-Term Recovery Care is, when you need it, and why Medico Insurance Company’s plan stands out from the crowd. If you’re still unsure whether it’s the right insurance for you, please contact us to learn about the plan available in your state.

What Short-Term Recovery Care is

When you suffer an illness or injury that requires a short stay of 12 months or less somewhere other than a hospital, Medicare doesn’t cover all the costs. That means, if you need care in a nursing home, assisted living facility, adult daycare, or hospice, you could face considerable out-of-pocket costs. A Short-Term Recovery Care plan not only fills in coverage gaps, but it may also give you the flexibility to receive home healthcare, depending on the benefits available in your state.

Why you need Short-Term Recovery Care

If you think a fall or a sudden decline in health can’t happen to you, the U.S. Department of Health and Human Services says seven out of 10 people ages 65 or older will require some kind of skilled care or custodial care in their lifetime. Medicare doesn’t cover custodial care, which is help with basic personal needs, such as getting in and out of bed, bathing, dressing, eating, and getting on and off the toilet. Short-Term Recovery Care insurance covers skilled and custodial care, so you don’t have to drain your savings account or retirement income to receive the recovery assistance you need.

What to look for in a Short-Term Recovery Care plan

Since policies vary considerably by state, you’ll need to research:

  • what plans cover and don’t cover
  • whether your coverage will begin immediately
  • at what age your coverage will end

Most importantly, understand what eligibility criteria you need to meet. For instance, most Short-Term Recovery Care plans won’t cover a pre-existing condition, and they require proof that you suffer from a cognitive impairment or need assistance performing two out of six daily living activities, which are toileting, continence, bathing, transferring from a chair or bed, eating, and dressing.

Why our plan stands out

Carrie Haubensak, sales director at Medico, says two factors make our plan valuable: “the price and the fact that Medico’s Short-Term Recovery Care insurance plan includes coverage for home healthcare. With other policies, coverage for that type of service is an additional rider, meaning an added cost.”
Haubensak says home healthcare allows policyholders to stay where they’re most comfortable and to retain as much of their independence as possible. Medico’s plan also does not require a health exam to qualify. Potential policyholders complete an application and a prescription drug screening.
“Once the underwriter has both pieces of information, they do a health interview over the phone. That’s it,” Haubensak says.
Medico’s plan covers adults ages 18–79 and offers individualized plans that are available in daily benefit amounts of $100–$300 in $10 increments. Other benefits include:

  • Elimination Period: Choose between 0, 15, or 30 days.
  • Lifetime Maximum Benefit Period: Choose between 120, 240, or 360 days.
  • One-time Restoration of Lifetime Maximum Benefit Period
  • Bed Reservation Benefit: If you need hospitalization while you’re staying in a nursing home or assisted living facility, Medico will pay the fee to reserve your spot for up to 21 days per benefit period.
  • Optional Survivorship Benefit: A spouse does not owe additional premium payments after the loss of their loved one (not available in Illinois or Montana).
  • Optional Inflation Protection: This added protection ensures you will not pay more for healthcare costs due to inflation.
  • Household Discount: This benefit applies when two or more people living in the same household apply for Short-Term Recovery Care at the same time and at least two policies are issued (not available in Ohio).
  • Guaranteed Renewable: You will maintain your coverage as long as your payments are made on time.
  • 30-day Guarantee: You have the ability to cancel your policy and have your premium refunded — minus any claims paid — within 30 days, if you’re not completely satisfied.

For more information on all of our products, call (800) 547-2401, Option 3.

Which states offer our Short-Term Recovery Care plan

Medico Insurance Company disclosures

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