I. FEDERAL TAX/STATE MASSHEALTH (MEDICAID) EXEMPTIONS
*These laws are subject to change at any time. These exemptions might not apply to this policy at a future date. Read Your Options for Financing Long-Term Care: A Massachusetts Guide for more information.
II. THIS POLICY COVERS THE FOLLOWING LONG-TERM CARE SERVICES
III. BENEFIT LIMITS 2
IV. BENEFITS BEGIN AFTER:
V. EXCLUSIONS AND LIMITATIONS
VI. TO BE ELIGIBILE FOR BENEFITS
VII. OTHER BENEFITS
VIII. ANNUAL PREMIUM
IMPORTANT: This is a brief summary of proposed coverage. It is not a policy. If you choose to purchase a policy, please read and review your policy carefully to verify that the coverage you have purchased is the coverage you intended to purchase.
1 These benefit amounts usually are not cumulative. For example, if your policy provides a total of 730 days of coverage and you use 100 days to pay for home health care services, you will have 630 days of coverage left to apply to other services such as nursing home care.
2 Long-term care insurance usually does not cover the full cost of long-term care services. According to the most recent Your Options for Financing Long-Term Care: A Massachusetts Guide, the average cost of private nursing home care in Massachusetts was $191 per day and the average stay in a nursing home lasted 511 days. The average cost of home health care services in Massachusetts was $45 per day.
Inflation is likely to have increased these average costs by the time you need long-term care services. Inflation protection coverage will help protect the value of your benefits:
3 Further information about the exclusions or limitations contained in this policy:
4 Level premiums are designed to stay the same for the life of the policy, although they can be changed for an entire class of policyholders. Guaranteed premiums never can be increased. Some premiums are subject to discounts (for example, spousal discounts or a first-year-only discount).