Maryland Long Term Care Insurance

Written by Norene Anderson
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All states have laws concerning long term care insurance. Maryland is one of twelve states with an established state tax incentive for paying long term care premiums. Residents may take a deduction or credit for the amount. This encourages the purchase of long term care protection at an age when the policyholder is generally healthy and many years from needing the coverage.

Before enrolling in a policy, there are some questions that need to be asked about the coverage. One question to ask is if the policy is renewable for life. Some policies have an age limit for when the policy is no longer usable. It would be sad to pay for a policy from the time you are 45 until you are 70 and then find out you cannot renew the coverage just when you need it the most.

Requirements for Maryland Long Term Care Insurance

The requirements for coverage are another area to ask questions. Are Medicare certified nursing homes or assisted care facilities the only ones covered? Also, some policies require a hospital stay before entering a long term care facility in order to receive coverage. If there is an elimination period or deductible, does it apply to every admission? All of these questions should be answered by any carrier you are considering for a policy. The premium may sound affordable, but when it comes time for using the policy, you may not be able to meet the out-of-pocket costs.

For any questions about a company, you can contact your state insurance commission or department for a comparative review of policies in your state. The states monitor the performance and the complaints against insurance providers. You can also find out if the insurance agent you are considering is licensed to sell insurance in your state.

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