LONG-TERM CARE

 MedAmerica Simplicity
Underwritten by MedAmerica Insurance Company.
 MedAmerica is rated "A- Excellent" by A.M. Best for financial strength.


Availability
The Simplicity product is available in all states except the following where it is pending approval: CA, GA and MD.
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Accessing Benefits - Activities of Daily Living Triggers & Cognitive Impairment
In order for a plan to be tax-qualified, the minimum triggers for accessing benefits are "substantial assistance" ("stand-by" or "hands-on") with two out of six activities of daily living. These activities are eating, dressing, bathing, transferring, continence and toileting.
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Policy Maximum Benefits
The Facility Maximum Monthly Benefit (MMB) is $2,100 and up in multiples of $300 with no maximum. The Community Maximum Monthly Benefit is 80% of Facility MMB standard option, and 60% and 100% are also available. Lifetime Maximum Benefit: choice of 24, 36, 48, 60 or 84 months or unlimited.
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Elimination Periods
As in most insurance products, long term care insurance also has deductibles. For long term care, these deductibles are called "Elimination Periods." The first days of coverage that are not covered by the policy are the Elimination Period. The insured may choose either 30, 60, 90 or 180 calendar days occurring during a one year accumulation period but do not have to be continuous. All Elimination Periods are applied only once in the lifetime.
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Benefit Trigger
 Chronically Ill and Disabled ("Disabled" means unable to perform two of six Activities of Daily Living or Cognitively Impaired).
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Shared Waiver of Premium
Must be purchased by both Care Partners within 6 months of each other and have the same effective date. Not available if Partners' age difference is more than 15 years.
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Inflation Protection
None; 5% simple no maximum; 5% compound 2X maximum; or 5% compound no maximum.
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Other

  • 20% reduction over individual rates if one Care Partner purchases (no application required from other Partner) and 40% if both are accepted and purchase.
  • 10% association discount.

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    Coverage/product may vary by state.

    Age/benefit restrictions may apply.