Wellabe launches flexible short-term care insurance plan

DES MOINES, Iowa – As medical costs continue to rise, Wellabe  announced a new short-term care insurance plan underwritten by Medico Insurance Company designed to help customers age in place and maintain flexibility with their health or recovery needs. This is also the first product launched under the company’s new brand.

Wellabe’s new Short-term Care insurance product is home health care based with the option to include additional benefit periods for care received in a facility, like a nursing home or assisted living facility. 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 are committed to helping people be well protected and well prepared, and our new Short-term Care insurance fills a critical gap in the market that provides individuals and families with peace of mind for the future,” said Dave Keith, chief executive officer at Wellabe.

Short-term Care insurance offers coverage for extended care in the home or in a facility (with a facility care rider). It also provides coverage for both medical and non-medical help, such as home health aide services. Policyholders can 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 is proud to offer Short-term Care insurance to residents of Arizona, Iowa, Texas and Ohio, in addition to 20 other states.

Wellabe’s Short-term Care insurance plan also offers a multi-policy discount for its 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.

“No two people have the same retirement plan, the same care plan, or the same medical needs,” said Keith. “That’s why our Short-term Care insurance is designed to be flexible and accommodate what works best for the customer.”

People can apply with their spouse to receive a competitive household discount. 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.