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As we age, the price of medical care, assisted residing or nursing house stays can change into a major monetary burden. Planning forward is crucial to make sure that you or your family members aren’t overwhelmed by these bills later in life.
In case you are exploring your choices for long-term care, one among your choices is GoldenCare Insurance coverage. As an insurance coverage brokerage, GoldenCare companions with a variety of carriers to supply long-term care insurance coverage (LTCI), Medicare insurance policies, life insurance coverage, annuities and different insurance coverage merchandise.
Learn on to be taught extra about GoldenCare Insurance coverage and whether or not it matches your long-term care insurance coverage wants.
Greatest insurance coverage market
GoldenCare is a market that companions with a number of of the best long-term care insurance companies. In different phrases, it is a spot to check protection and coverage choices. With the help of a gross sales agent, shoppers can discover their choices on a single platform and determine essentially the most economical protection tailor-made to their particular wants.
GoldenCare takes half within the Medicare discipline, specializing in Medicare Benefit plans and Medicare dietary supplements. It additionally works with life insurance coverage, last expense insurance coverage and annuities.
As of Could 2025, GoldenCare’s checklist of associate corporations contains Mutual of Omaha, Nationwide Guardian Life, Cigna, and Nationwide.
GoldenCare long-term care insurance coverage professionals and cons
- One place to supply a number of insurance policies
- Gives instructional assets about long-term care
- Focuses on a number of different insurance coverage merchandise
- Would not supply its personal insurance coverage merchandise
- No insurance coverage premium comparability software
Execs defined
One place to supply a number of insurance policies
Trying to find the fitting insurance coverage coverage at all times takes time, it doesn’t matter what sort of protection you want. For long-term care insurance coverage, a one-stop store like GoldenCare makes the search simpler, permitting you to check protection quantities, premiums and different particulars throughout a number of suppliers.
Gives instructional assets about long-term care
Visiting the GoldenCare web site and studying by means of its assets on long-term care product sorts, prices and often requested questions will floor you within the necessities of what insurance is and the way it can help the lives of the aged. GoldenCare supplies a whole lot of useful info on topics you won’t even concentrate on, similar to tax deductions and state partnership plans.
Focuses on a number of different insurance coverage merchandise
GoldenCare doesn’t restrict its merchandise to long-term care insurance coverage. The corporate additionally markets vital care insurance coverage insurance policies and a myriad of Medicare choices, similar to Medicare Benefit, Medicare prescription protection and Medicare supplemental insurance coverage. It additionally affords life insurance policies and annuities.
Cons defined
Would not supply its personal insurance coverage insurance policies
GoldenCare doesn’t promote its personal insurance coverage merchandise. As a substitute, it’s a brokerage that permits you to select from long-term care merchandise and the best life insurance carriers. Because of this, particulars like insurance coverage situations described by GoldenCare might differ from these provided by the carriers immediately. In some circumstances, you might have to double-check that the knowledge on GoldenCare matches what’s marketed on every insurer’s web site.
No consumer-facing insurance coverage premium comparability software
GoldenCare’s web site shows common long-term care prices from state to state, however its premium comparability software is for brokers solely. For info on charges, you will have to fill out a web-based type, and an agent will name you with solutions to extra particular questions on charges and coverages from totally different corporations.
GoldenCare long-term care insurance coverage choices
GoldenCare hybrid long-term care insurance coverage
Lengthy-term care insurance coverage has been altering as youthful prospects demand extra flexibility and profit plans that consider a greater diversity of future situations. GoldenCare has been maintaining with this development by providing hybrid insurance policies, which mix options of conventional long-term care insurance policies with life insurance coverage and different merchandise. For instance, you might discover a plan that pays to your keep in a residential care facility in addition to medical safety for power or terminal sickness remedy.
Along with mixed medical remedy and long-term care, hybrid insurance policies often pay a loss of life profit if the care advantages usually are not used. In some circumstances, the insurance coverage supplier will return half or the entire premiums you’ve got paid if coverage advantages are by no means paid out.
GoldenCare state long-term care partnership plans
GoldenCare additionally makes state partnership plans out there. These insurance policies shield your belongings in case your long-term care advantages run out and you should flip to a state-run Medicaid coverage to pay for assisted residing or nursing house care.
As a substitute of the standard spend-down that requires you to deplete your extra revenue to qualify for Medicaid, the partnership plan permits you to obtain Medicaid advantages and defend your belongings on the identical time.
With GoldenCare’s state partnership plans, your state coverage pays out first. However when you exhaust your advantages, your partnership plan protects the identical quantity of your belongings as what your state coverage paid out.
GoldenCare vital sickness insurance coverage
Important sickness insurance coverage covers the price of an surprising keep in an assisted residing facility or nursing house attributable to a critical sickness. Examples embody most cancers, cardiac issues, kidney illness, Alzheimer’s and strokes, all of which require prolonged, pricey facility stays and rehabilitation. Conventional medical health insurance and Medicare might not cowl these bills, jeopardizing your monetary well being as you age.
Steep medical payments for vital sickness are a standard reason for chapter. Though most families have health insurance, 79% of chapter filers, in line with GoldenCare, had health insurance in place when they were first diagnosed. Co-pays and deductibles trigger the preliminary harm, which worsens if insurance coverage limits are reached and uncovered bills similar to nursing house and hospice stays happen.
A vital sickness insurance coverage coverage might cowl lack of revenue, co-pays, rehabilitation, journey, lodging, house modifications and medical tools similar to wheelchairs and moveable oxygen. These insurance policies can also assist pay mortgages, youngster care, faculty bills and different money owed that proceed through the sickness. A money profit can also be out there with no restrictions on how it may be spent.
GoldenCare long-term care insurance coverage pricing
Working with GoldenCare means contacting the corporate over the cellphone and discussing choices and pricing with an agent. Since so many elements can go into the premium value, the corporate doesn’t present quotes on its web site.
Lengthy-term care insurance coverage prices rely in your age, total well being — which is usually decided by a medical examination — the quantity of protection you want and whether or not there is a provision for inflation. Some insurance policies will permit advantages to rise with the final value of residing since this can impression the last word value of long-term care if you lastly want it.
The next financial savings could also be out there when utilizing GoldenCare’s companies:
- Reductions could also be provided to spouses or companions.
- A “shared care” function can permit spouses to attract on one another’s insurance policies if their very own has reached its profit restrict.
- Tax deductions and credit for premium funds are sometimes included in coverage protection.
GoldenCare can quote insurance policies overlaying assisted residing, nursing properties, house well being preparations (similar to personal nursing) and family-provided care.
GoldenCare Insurance coverage monetary stability
If you’re insured by a long-term care coverage, you can be receiving profit payouts for a few years. For these causes, you need to be sure your service is financially secure. As a result of GoldenCare merely acts as an agent for insurance coverage corporations, it is essential that you simply analysis the monetary energy rankings of the person carriers you are curious about.
Observe that GoldenCare vets insurers, which helps you belief that the businesses on {the marketplace} are financially robust. As an illustration, one among GoldenCare’s companions, Mutual of Omaha, has an A+, or glorious, financial strength rating by A.M. Greatest. A.M. Greatest is a number one credit standing company.
GoldenCare has been in enterprise as a privately held firm for the reason that Nineteen Seventies. Via a community of brokers, 80% of whom are impartial, it sells greater than $800 million in insurance policies annually. The agency has additionally partnered with Integrity Advertising and marketing Group, a serious insurance coverage know-how agency headquartered in Texas. This has improved GoldenCare’s addressable market and likewise places the corporate at the forefront of brokerage tech innovation.
GoldenCare Insurance coverage accessibility
Availability
GoldenCare’s predominant workplace is situated in Plymouth, Minnesota. The corporate has prospects and a community of affiliated gross sales brokers all through the USA.
Contact info
Inquiries will be made by calling GoldenCare’s toll-free quantity at 888-825-0231. It’s also possible to direct questions through e-mail to info@goldencareusa.com.
Person expertise
GoldenCare has an internet site with pretty thorough info on long-term and associated insurance coverage, though customers can not immediately evaluate pricing and insurance policies.
The location affords a number of in-depth articles on the monetary perils of getting old and medical prices. A helpful “Cost of Care” map additionally reveals common long-term care prices by state. Additionally out there from the location is a PDF model of the Nationwide Affiliation of Insurance coverage Commissioners’ Shoppers Guide to Long-Term Care Insurance.
GoldenCare Insurance coverage buyer satisfaction
GoldenCare has earned excessive rankings from a number of prime buyer satisfaction score businesses. As an illustration, The Better Business Bureau provides GoldenCare an A+, indicating that it’s conscious of prospects’ requests and complaints.
Optimistic evaluations point out the standard of GoldenCare’s customer support representatives, particularly their means to assist prospects perceive one of the best insurance policies for his or her wants. Complaints are inclined to give attention to the excessive costs of plans.
GoldenCare long-term care insurance coverage FAQ
What are the various kinds of long-term care insurance coverage?
Normal long-term care insurance coverage covers a portion of the price of a nursing house or assisted residing facility by paying a every day or month-to-month profit quantity. These insurance policies can also cowl in-home care supplied by a nurse or different caregiver. The insurance policies often have a lifetime profit restrict that, as soon as reached, ends the insurance coverage protection.
Hybrid long-term care insurance policies are a newer innovation. These insurance policies mix life insurance coverage or an annuity function with long-term care protection. Should you want long-term care, these prices will be paid from the long run loss of life profit or annuity payout.
Does GoldenCare deal with claims processes?
As an insurance coverage dealer, GoldenCare sells insurance policies of varied carriers by means of a community of brokers. When a declare arises, you need to contact the service immediately for info, questions and wanted functions.
GoldenCare’s brokers can advise you on every firm’s course of for submitting a declare. For long-term care insurance coverage, it is common for carriers to require an examination by a consultant. The rep interviews you and experiences in case you’re impaired in “actions of every day residing.” These might embody bathing, dressing, consuming and different on a regular basis actions. The diploma of impairment determines whether or not or not you are entitled to advantages that can defray the price of care.
Does GoldenCare hold my info protected?
GoldenCare collects private info from prospects and shares it with insurance coverage corporations and its community of gross sales brokers. The corporate gathers info by cellphone or e-mail from prospects, brokers, distributors, knowledge verification companies, advertising and promoting distributors. It additionally takes info through cookies, that are data-gathering textual content recordsdata used to keep up web sites and retailer info on particular person customers.
Should you’re involved about your info safety, you need to contact GoldenCare and any insurance coverage firm you are coping with to debate the problem immediately.
How we evaluated GoldenCare long-term care insurance coverage
We investigated GoldenCare’s choices and in contrast them to a number of long-term care insurance coverage companies. Particularly, we checked out GoldenCare’s choices and companions and the way the corporate markets insurers and plans on its web site.
We thought of its availability and high quality of instructional assets in addition to how straightforward it’s for potential prospects to check plans and pricing. We additionally checked out availability, buyer and third-party evaluations and firm stability.
Abstract of Cash’s GoldenCare long-term care insurance coverage overview
Working by means of an insurance coverage dealer like GoldenCare is an environment friendly approach of evaluating long-term care insurance coverage choices. GoldenCare works with a number of of the main nationwide carriers on this discipline.
The corporate makes a speciality of advertising high quality insurance coverage merchandise essential to seniors and has earned excessive marks for buyer satisfaction. It operates a user-friendly and informative web site, though missing a price-comparison software.
Finally, in case you’re in search of a good approach to take a look at the numerous long-term care insurance coverage choices out there, GoldenCare is a good place to start out.