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Long-term care insurance's pitfalls explored at National Private Duty Association Conference
Arcadia Resources Inc., representative discusses ‘the good, the bad and the ugly'On the surface, long-term care (LTC) insurance seems like a win-win situation for both patients and care providers. However, selecting the proper LTC insurance policy takes careful research. Patients may not recognize the coverage limits and clauses that affect benefits paid. For example, many LTC policies have elimination periods that stipulate a patient must pay for his or her own benefits for at least two weeks before the policy assumes payment.
On the provider side, caregivers often experience long delays before being paid, while still paying the salaries of medical staff and other expenses of providing care for the patient. Smaller health care companies aren't capitalized enough to wait for payment and can fall into financial distress.
Individuals and care providers need information to help them understand the implications of LTC insurance policies.
Phyllis Pheeney, a vice president of Arcadia Services, Inc., wholly owned subsidiary of Arcadia Resources, Inc. (AMEX: KAD), will be a presenter during the panel discussion "Long Term Care Insurance, The Good, The Bad and The Ugly" at the National Private Duty Association Annual Conference. The conference will be held on March 2-4 at the Holiday Inn in San Diego, located at 1355 North Harbor Drive.
On a daily basis, Pheeney counsels individuals, providers and Arcadia offices across the country on how to make the best choices regarding long-term care insurance.. Pheeney has more than 35 years experience in the health care industry.
