Exemptions to the Individual Mandate
There are some cases where there is no penalty to not having coverage.
There are many variables to consider when you are designing a long-term care plan that not only suits your needs but also fits your budget. This section discusses the basic plan design elements that you will need to consider.
You will need to decide on several factors:
1. The Elimination Period (period before benefits begin): typically ranging from 0 to 100 days
2. Length of the Benefit Period: ranging from “one year” to “lifetime”
3. Daily Benefit Amount: usually ranging from $50 to $250 per day