MedAmerica announced the introduction of a long term care insurance reimbursement product.
Previously, MedAmerica has specialized in cash-benefit products, which pay a specified daily benefit amount regardless of actual long term care (LTC) expenses. Reimbursement coverage pays for LTC expenses actually incurred up to the policy's monetary limit.
MedAmerica's new plan, FlexCare, also offers an optional monthly cash benefit. It will be sold in three states exclusively through AIMS Benefits Solutions, Montgomery, Ala., a marketing services administrator selling LTC insurance through independent managing general agents and marketing organizations.
MedAmerica Insurance Company, Pittsburgh, MedAmerica Insurance Company of Florida, Orlando, Fla., and MedAmerica Insurance Company of New York, Rochester, N.Y., are the LTC insurance subsidiaries of Lifetime Healthcare Inc., Rochester.
-Trevor Thomas
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