Long
Term Care Insurance Glossary
ADL
(Activities of Daily Living) These activities include things like
bathing, dressing, eating, toileting, transferring (moving in or out
of a bed or chair), and continence (the ability to retain a bodily
discharge voluntarily). They are used by insurance companies to determine
eligibility for long-term care insurance benefits.
Benefit
The money an insurance policy pays out in response to a claim.
Cognitive
impairment
Certain conditions, such as Alzheimer's disease, require the same
kind of long-term care as you would need if you had a physical disability,
and would trigger your eligibility for benefits in the same way as
the inability to perform Activities of Daily Living. Make sure the
coverage you select will pay for such care if you should be afflicted
with these conditions. Some insurance companies do not offer coverage
for certain mental and nervous conditions--check for this as well.
Custodial
Care
Services aimed at maintaining a person's health and/or preventing
deterioration in the person's functional status, provided on an extended
basis to a person who is chronically ill.
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Daily
Benefit
The money an insurance policy pays out daily in response to a claim.
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Home
health Care
A wide variety of services that bring long-term care to the home and
can also include skilled or unskilled nursing, physical therapy, and
assistance with ADLs. This care can also include non-medical services,
such as housekeeping, shopping, laundry, money management, meal preparation,
or help with ADLs.
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Lifetime
(unlimited) benefit A feature that continues your benefits for your
lifetime, no matter how long you require care.
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Lifetime
Multiplier
A feature that continues your benefits for a pre determined amount
of time.
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Long-term
Care
As opposed to acute care, long-term care is chronic--provided to people
who need help with the activities of everyday life. This care can
be delivered in a nursing home or other facility or at home.
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Medicare
Congress established Medicare in 1965 as Title XVIII of the Social
Security Act. It is a Federal health insurance program wholly funded
by the Federal government with no state participation. Its coverage
is divided into Part A and Part B. The former basically covers acute
care in hospitals and limited post-hospital care in a skilled nursing
facility and at home. Part B is a voluntary supplemental medical insurance
for a variety of outpatient hospital services.
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