Medico's AARP Short-Term Care Insurance Product Reaches Market
The product offers access to care coordination benefits as well as reimbursement for care.
Medico Insurance Company has started selling a short-term care insurance (STCI) policy that uses the AARP brand.
(Related: AARP to Offer Medico Short-Term Care Insurance)
AARP and Medico announced the relationship in August.
The AARP branding licensing arm, AARP Services Inc., has given is Medico permission to put “AARP” in its product name. Medico is now offering AARP Short-Term Care Insurance in 17 states.
Medico is a unit of American Enterprise Group Inc. of Des Moines, Iowa.
The Medico STCI policy can reimburse a policyholder for part of the cost of home care, or for the cost of staying in a nursing home, assisted living facility, or adult daycare program.
The policy also offers access to a care coordination benefit, and the insureds can get some assistance with household chores, such as yard maintenance and house cleaning, according to Medico..
Correction: An earlier version of this article misstated AARP Services’ relationship to the Medico short-term care insurance. AARP Services licenses use of its brand to Medico, and Medico and its distribution organization handle distribution.
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