New research shows that many senior citizens would benefit from professional planning advice.
BY ROBERT TIE
A survey of 500 people
age 65 and older found serious deficiencies in
their understanding of how Medicare covers nursing
Sixty-three percent of
respondents didn’t know basic facts about Medicare
nursing facility benefits.
people entitled to Medicare, a benefit period
starts the day they enter a hospital for at least
three days of covered care and ends when they have
been out of the hospital or a skilled nursing
facility for 60 consecutive days. A new benefit
period begins—and beneficiaries are entitled to
another 100 days of long-term care coverage in
such a facility—the next time they spend at least
three covered days in a hospital. There is no
limit to the number of coverage periods
beneficiaries can have.
respondents knew the least about limits on
Medicare long-term care coverage.
to rounding, figures do not add up to 100%.
Source: Wegge Strategic
Research, De Pere, Wisconsin and CareQuest Inc.,
Madison, February 2001, www.carequestplus.com
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