Short-Term Nursing Home Insurance with Recover Cash

Sometimes, you have a surgery, accident, or health procedure that requires in-patient recovery. And as you get older, your partner can’t help with the activities of daily living so much during your recovery. The solution is a short-term stay in an assisted living facility. Medicare only covers so much of the bill. Short-term nursing home insurance like Recover Cash® can help avoid out-of-pocket payments for care for a prolonged illness.

What is Recover Cash®?

Recover Cash® is short-term care insurance that provides coverage for a range of care options, including nursing homes, assisted living facilities, or in your home. As an added benefit of the Home Health Care Rider, policyholders will have access to TCARE’s Family Caregiver Concierge Services designed to help support your loved ones and prevent caregiver burnout.

How does it work?

Recover Cash® pays benefits directly to the policyholders. Recover Cash can help pay for stays in an assisted living facility or skilled nursing home, help offset costs associated with adult day care/hospice care, and even help pay for care in your own home. With the Home Healthcare Rider, cash benefits from GTL and support services from TCARE are also available to help prevent caregiver burnout. If you plan to recover at home, however, our in-home care insurance may be a better option for you.

Who is TCARE?

Recover Cash policyholders have access to TCARE when they add the Home Health Care rider. TCARE enables family caregivers to focus on what matters most: taking care of themselves and their loved ones. With tailored action plans, tech-enabled insights, comprehensive resources, and family care protection products, TCARE is here to help families navigate their caregiving journey.

Do I need nursing home insurance if I'm on Medicare?

Short-term nursing home insurance can supplement Medicare. A small payment today can save you big on bills down the line. Here’s what you can financially expect in certain situations:

When you go to the nursing home:

Medicare will pay for the first 20 days in a nursing home if you have been an inpatient in the hospital for at least 3 days.

What if you go straight to the nursing home, without going to the hospital first? Recover Cash pays benefits without any prior inpatient hospital stay.

While you’re in the assisted living facility:

Medicare will pay as long as you are receiving skilled care on a daily basis as certified by your doctor.

But you may get a bill for custodial charges. That includes help for activities of daily living, like bathing or assistance going to the bathroom.

Recover Cash nursing home insurance benefits can be used for any level of care: skilled, intermediate, or custodial.

Your benefit limits:

Medicare will stop paying when you hit the maximum benefit of 100 days.

What happens when you need more than 3 months to recover?

Recover Cash’s daily benefits can be paid directly to you for up to 360 days – almost a full year! Recover Cash gives you some financial breathing room to transition from acute post-event care to a longer care solution.

Recover Cash Highlights

Recover Cash has some pretty interesting advantages versus other insurance plans. Here are some of the highlights on why Recover Cash is a smart policy to have in your portoflio:

Benefits can begin immediately. No waiting periods!
Benefits restore once during the lifetime of hte policy. If you receive benefits early on, the policy restores after 6 months, and you can receive them again.
Benefit payout up to 360 days, almost a full year!

Example: Sally

Sally lives alone and leads a full, active life in retirement. Her health is good for her age. She plays pickleball regularly. One day, she twists wrong on the court and breaks her leg. After her surgery, she can’t complete most of those activities of daily living on her own. Taking a shower or bath due to her cast is impossible. She stays at an assisted living facility for a month so she can recover safely. Recover Cash is there, paying out benefits for the 30 days that she receives care. Those benefits help her cover some of the costs that Medicare didn’t pick up. There’s even enough for a knee brace and a fancy new water bottle when she’s back on the court.

Recover Cash vs Long-Term Care Insurance

Recover Cash is a short-term insurance policy. While it can pay benefits for nearly a full year, it does not function as a long-term care insurance policy. If you stay at the assisted living facility permanently, it is highly unlikely that you will be able to renew your Recover Cash policy.

Long-term care insurance originally was a stand-alone insurance policy that covered home health care and assisted living services.

Inflation has driven the cost of care higher and higher. We’re seeing folks live in retirement for longer than ever. All that means it’s harder than ever for an insurance company to offer long-term care insurance.

With the high cost of long-term care, a short-term nursing home insurance policy is an affordable alternative while you find a good financial solution.

Recover Cash Short-Term Care Insurance