Complaint / review text:
Everyone knows that there is a 90-day period for which the policyholder must meet before Bankers Life and Casualty Company will make payments. What they don't tell you upfront is that they will only pay for the services provided in the past month and not at the beginning of the month. It can be expensive for 90 days of long term health care in a nursing home - shall we say $12,000.00 is a reasonable amount, but when you learn that Bankers Life will not pay upfront for the period 91-120, you are then stuck with having to come up with an additional 4,000 dollars for which Bankers Life will reimburse you. What if you can't come up with that 4000 dollars? You then get a bad credit stab from the nursing home, who wants the money upfront. Bankers Life can also delay their payment beyond the 30 days, which also adds to your bad credit.in discussing this with the finance department at the nursing home, I was told that only Bankers Life pays after the 120 days - all others make payment at the first of the month for the month following the 90-day period.
The way this stacks up, the family must make the payment to the nursing home and then depend upon a reimbursement each month from Bankers Life. All other companies make payment direct to the nursing home at the beginning of the month.in other words, you may have to pay out 16,000 dollars before you will see one penny from Bankers Life. Think about it.