This week, Wellabe launched a Short-term Care insurance plan, which is underwritten by Medico Insurance Company and available in 10 states — Colorado, Georgia, Illinois, Iowa, Michigan, Missouri, Nebraska, Texas, Wisconsin, and West Virginia.
Short-term Care insurance offers coverage for extended care in the home or in a facility. It covers both medical and non-medical help. Policyholders select a daily benefit amount for up to 360 days of care, and the plan pays a full cash benefit for each day care is received.
Wellabe’s new product is home health care based with the option to add additional benefit periods for care received in a facility, like a nursing home or assisted living facility, and it has the option to add coverage for days spent in an adult day care for those needing minimal assistance in a group setting.
“We sought feedback from our distribution partners,” says Erin Bueltel, Director of Product Solutions at Wellabe. “What we heard is home health care coverage as the base was important while adding in facility care, all at different benefit levels so customers can use them when they need them.”
The product was designed with reflexive health questions that place applicants into the various plan levels. The only individuals not eligible to receive a policy are those who are currently receiving care.
“Our Short-term Care insurance is set up with a lot of flexibility to choose what works best for customers,” Bueltel says. “People can also apply with their spouse to ensure care is available in case something happens to one of them, and they will receive a generous household discount to make it more affordable.”
Wellabe’s Short-term Care insurance plan also offers a multi-policy discount for Medicare Supplement insurance customers, a Household Improvement benefit that provides $500 for home modifications that help policyholders remain at home, and a Care Coordination benefit that provides $500 to help set up a care plan when the need arises.
Wellabe offers life and supplemental health insurance plans to help you prepare for good days and bad. We’ll always be here to empower you to be well — well prepared, well protected, and well loved.
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Wellabe has launched a Short-term Care insurance plan that offers coverage for extended care in the home or in a facility in 10 states.