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Long Term Care Insurance
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Long Term Care Insurance
of 2024
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- Nation’s leader in Long-Term Care insurance since 1976
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- They also offer Hybrid Long-Term Care insurance, Short-Term Care & Home Health Care plans
MedAmerica Long Term Care Insurance Review
ConsumersAdvocate.org
25 Customer Comments & Reviews - see all comments
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With thirty years of experience, MedAmerica specializes in long term care insurance. They provide personal care advisors to help customers achieve the level of care they need for themselves and their loved ones. Some MedAmerica policies waive their premiums once policyholders begin filing claims. (Note: As of February 2016, MedAmerica no longer offers long term care insurance policies. Current policies are still in effect.)
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25 Customer Comments & Reviews
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I too have been misguided!
I requested to have my policy be put into my trust so I received some paperwork to sign and thinking it was part of the process, we signed it, then to find out we agreed to no longer continue paying into the policy! So now they are holding the money we payed into it and they won’t reinstate my policy with a payoffs of $50K for the two of us!
I have retained a lawyer!!!
I have maintained a policy for about 20 years for my mom. When it comes time to need it , they do nothing to help you understand the policy benefits and initiate them.
I have a working knowledge of insurance as I am in the business.
The web site offers no info, no online copy of policies explaining coverage, no online portal to look at the policy.
I am told they have to mail me the policy. They do not have the capability to email it to me. You have to be kidding.
We were informed of a significant rate increase, When we signed up for this plan, we were told the premiums would NEVER go up. Also, If we needed to get our money out before we use the policy, we could. They were both lies. Basically, this policy was a waste of the premiums I've paid for 10 years.
We were informed of a significant rate increase, When we signed up for this plan, we were told the premiums would NEVER go up. Also, If we needed to get our money out before we use the policy, we could. They were both lies. Basically, this policy was a waste of the premiums I've paid for 10 years.
I too have had a rather large premium increase and it pains me to pay it. But, I also have had the experience of having three family members with dementia. My grandfather, my father and now my wife. The premiums are high but pale in comparison to the cost of long term stay in a facility. My dad had a policy (Genworth) which cost him $44,000 +/- until he filed his first claim. At that point, his premium payment stopped and they picked up the bill for his stay. Eight (8) years later after he passed his total bills covered by the plan totaled $432,000.00 plus. The cost of my premium for the full year of 2019-2020 will be less than half the cost of my wife's bill for one month....from that... Read More
Policy holders are being raped by a 79% rate increase effective May, 2019. What's to like, much to trust, about an insurer that so little understands the business that it's in that it's only solution is to pick the pockets of policyholders to make up for its incompetence?
I rate them mediocre when it come to claims disbursement. They delay to no end. Customer service.... well forget about it
We too have received premium increases of 58% & 47%. If you review the reasons for the increases you can see their assumptions in the past were completely erroneous. In addition, they stopped writing long term care insurance back in 2016. Obviously, they are having trouble paying claims. Therefor, the need for these obscene increases. We have 3 choices: pay the increases, substantially reduce benefits, or let the premium lapse. In effect, they are hoping that the vast majority of policy holders elect to let their premium lapse and they would only have to pay up to what was paid in. This way they can use our money to pay for current claims. In my opinion, this was one hell of a scheme if... Read More
I too have been a victim of their increases which I was told would never happen. As a state employee the premiums were decent with a promise never to increase. The state of Tennessee no longer has a contract with Med America. So shortly after my premiums go up by 20%. Is there a class action lawsuit filed anywhere? I am not a sue happy kind of person. But I find it curious they have promised and not delivered as well as no longer offer LT Insurance. I am canceling today. After reading these reviews I will cut my losses at this point.
Class action lawsuit...I'm in. What is up with the New York State Department of Financial Services approving a 86.8% premium increase for MedAmerica. Who's protecting the consumer? How is anyone supposed to afford an 86.8% increase. It's absolutely outrageous. Have had policy since 2002 when I was only 41 years. Depended on this policy paying out when I needed it and now I don't see how I can pay for such an exorbitant increase. You should be ashamed, NYSDFS. MedAmerica asked for a 147% increase in Connecticut..Disapproved for a 30% increase over 3 years. In Pennslyvania, they requested increases between 76.3% and 82.8%...again Disapproved for a 20% increase. Not great, but definitely more... Read More
Top Rated
Our Partner
- Nation’s leader in Long-Term Care insurance since 1976
- As an independent brokerage, they provide unbiased information based on your needs
- GoldenCare has access to the Top LTC companies & discounts available
- They also offer Hybrid Long-Term Care insurance, Short-Term Care & Home Health Care plans