Long-Term Care Insurer Offers Simplified Insurance Plans in Florida

News!

Long-term care insurer MedAmerica, will expand with a new carrier domiciled in Florida on Dec. 15, MedAmerica Insurance Company of Florida .Recognizing the unique qualities and opportunities of the Florida market, MedAmerica decided to incorporate a new carrier dedicated to that state.

Here’s a summary of the plan:

After a Simplicity policyholder becomes benefit eligible, they receive monthly benefits distributed from their Cash Benefit Account. Their monthly cash benefit is prepaid and is guaranteed in full each month they remain on claim, whether or not they received services. A person can use the funds as they choose, no company approval is required. Cash Benefit Accounts are available in varying amounts from $100,000 to $1 million and can grow over time using various inflation protection options.

Policyholders have been notified that MedAmerica Insurance Company of Florida has assumed their MedAmerica Insurance Company contracts issued in Florida. There are no changes in coverage or premium as a result of this transaction. Only the carrier has changed.

Source: MedAmerica.