Old age.
No fear.
A transparent, affordable eldercare solution that keeps you and your loved ones covered.
Learn more about eldercare
Reframe combines life insurance protection with coverage for family medical events – from critical to chronic illness.
Coverage you buy for yourself can also be used as collateral to cover a loved one.
Avoid unexpected price spikes with costs directly tied to monetary payouts.
Fill in the holes where your existing coverage falls short and receive payment on matching schedules.
Access the value of your investment when you need it and keep what you don’t use.
All managed on one platform
Aging has changed but the model of care hasn’t.
Gaps in healthcare coverage make caring for loved ones financially overwhelming.
Learn more about eldercare- Regular healthcare insurance doesn’t provide comprehensive coverage related to aging.
- Medicare doesn’t cover the majority of long-term care costs.
- Medicaid only covers those with assets equalling $2,000 or less.
- Traditional long term care insurance is hard to claim and doesn’t reflect today’s life expectancies or cognitive diseases.
- The other alternative? The crippling, out-of-pocket cost of self-insurance.
It’s the solution my family didn’t have.
I’ve seen the financial drain of aging first-hand. My family spent over $800,000 to care for my grandfather during his five year battle with Alzheimer’s. I created Reframe so that families don’t have to deal with crippling aging costs ever again.”
- Nathaniel Krasnoff, CEO
Learn more about eldercare insurance
- What’s the difference between eldercare coverage and long term care insurance?
Traditional long-term care insurance is limited in the types of life events it covers and may not offer coverage for up to 90 days after a diagnosis – at which point the standard policies are capped at $300 per day (not enough for adequate care in certain areas of the U.S.). In addition, the policy can lose it’s value to the insurer in the case of early death or claims mismanagement (Whatever isn’t claimed goes back to the insurer). Eldercare coverage, on the other hand, is a direct-to-consumer product that fills the gaps in existing insurance policies, can be transferred to other family members, and is tied to a fixed monetary payout.
- Can I use Medicaid to pay for long term care?
Medicaid is reserved for those with limited income and assets (in some states the requirement is $2,000 or less) and, in order to qualify, you must prove you haven’t recently transferred assets to someone else (applicants who violate this rule can be penalized). The current solution for people with an excess of assets applying for Medicaid is a complicated, limited financial strategy called a “spend down.”
- Why shouldn’t I rely on the benefits offered by Medicare?
Unfortunately, the long term care Medicare provides is minimal and short-term. While it may pay for the initial 20 days in a skilled nursing facility, for instance, you would be required to pay a daily coinsurance rate for up to the 100th day. After this point, the entire cost of care would be out-of-pocket. It’s also important to note, Medicare is in the process of auditing health insurers who treat Medicare patients in order to find discrepancies in charges. This could result in the claw back of payments.
- Why is eldercare coverage better than self-insurance?
According to the U.S. Department of Health and Human Services, as of 2016 the average cost of a semi-private room in a nursing home was a staggering $225 per day or $6,844 per month. Without eldercare coverage that – and a variety of other expenses – would need to be paid out-of-pocket, potentially wiping out your savings over time.
- What are the costs of care?
The current average lifetime cost of formal long-term care is $172,000 and rising.*
Homemaker services
$65,700 a year with a five year annual grown of 3.44%**
Home health aide services
$67,160 a year with a five year annual grown of 3.09%**
Adult Day Health Care
$27,375 a year with a five year annual grown of 3.44%
**Assisted Living Facility
$48,612 a year with a five year annual grown of 2.97%**
Nursing Home Care
Semi-Private Room: $90,155 a year with a five year annual grown of 3.10%**Private Room: $102,200 a year with a five year annual grown of 3.13% **
* Source: PWC | **Source: Genworth
