Personal Care ( Custodial care) = Care to help individuals meet personal needs such as bathing, dressing and eating. Someone without professional training may provide care.
Non-Forfeiture Benefits = A policy feature that returns at least part of the premiums to you if you cancel your policy or let it lapse.
Medicare Supplement Insurance = A private insurance policy that covers many of the gaps in Medicare coverage (also called Medigap insurance coverage).
Medicare = The federal care program providing hospital and medical insurance to people aged 65 or older and to certain ill or disabled persons. Benefits for nursing home and home health services are limited.
Medicaid = A joint federal/state program that pays for healthcare services for those with low incomes or very high medical bills relative to income and assets. “The number of Americans needing long-term care is expected to double in the coming decade as...
Health Insurance Portability and Accountability Act (HIPPA) = Federal health insurance legislation passed in 1996 that allows, under specified conditions, long-term care insurance policies to be qualified for certain tax benefits.
Hands-On Assistance = Physical assistance (minimal, moderate or maximal) without which the individual would not be able to perform the activities of daily living.
Guaranteed Renewable = When a policy cannot be canceled by an insurance company and must be renewed when it expires unless benefits have been exhausted. The company cannot change the coverage or refuse to renew the coverage for other than nonpayment of premiums...
Dementia= Deterioration of intellectual faculties due to a disorder of the brain.
Custodial Care (Personal Care) = Care to help individuals meet personal needs such as bathing, dressing and eating. Someone without professional training may provide care. Related articles How Much Does Long-Term Care Insurance Cost? (ltcfacts.org) How does your...
