Lesson 9 Private Insurance Plans for Seniors Flashcards
FACT:
NC statutes call for all medicare supplement policies to “contain a prominently displayed no-loss cancellation clause enabling insured to return policy within 30 days of receipt with return in full of any premium paid”
Fact
FACT:
NC law requires agents to ask every person solicited whether they are currently covered under any other contracts so they may explain the extent to which the proposed coverage will overlap or duplicate coverage
before an app is taken the dept of insurance requires that agents obtain a signed form from the applicant acknowledging that this information has been provided
LTC
Long Term Care
medical care needed for extended period of time, usually longer than 90 days
broad range of medical and personal services for individuals who need assistance with daily activities for extended period of time
Acute Illness
serious condition such as pneumonia from which the body can fully recover with proper medical attention
Chronic Illness
physical condition that is constant and recovery is not possible
Medigap Policies
supplement medicare benefits
pay most if not all medicare deductibles and copays
pay for some health care services not covered by medicare
Skilled Nursing Care
daily nursing care ordered by dr. 24/7, only available by prescription usually administered in nursing homes
Custodial Care
intended to assist with ADL’s. care given to meet daily needs such as dressing, bathing, etc. does not require medical training but must be administered under physicians order.
Home Health Care
skilled or unskilled care provided at home, usually part time
Adult Day Care
usually caters to those who are mentally or physically impaired when primary caregiver is not available.
offered in care centers. do groups, activities, exercises, etc.
Respite Care
designed to give primary care giver short period of rest while still providing the patient with assistance with various ADL’s
characterized by its temporary status
Continuing Care (residential care)
designed for sr’s in long term care communities, provides assistance with full time medical and social needs.
Retirement communities are often sponsored by religious or non profit orgs.
In 2014 LTC benefits paid above ____$ daily or ____$ per year is considered taxable
$330
$120,450
A physical diagnosis means that
individual has been certified as unable to perform at least 2 ADL’s.
An LTC policy must take into account at least 5 ADL’s
ADL
Activities of Daily Living
