Disability & Long-Term CareQuestion 96 of 315
A long-term care policy that pays a flat $200 daily amount whenever benefits are triggered, regardless of the actual cost of care, is BEST described as:
a.An indemnity (per diem) LTC policy
b.A reimbursement LTC policy
c.A point-of-service LTC policy
d.An indemnity health insurance policy
Explanation
An indemnity, or per-diem, LTC policy pays a flat daily or monthly amount as soon as a benefit trigger is met, regardless of what care actually costs. A reimbursement policy pays only the actual expenses incurred, up to a stated daily or monthly limit.
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Related questions on this topic
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