Private Insurance Plans for Seniors Flashcards
Medicare Supplements
Health insurance that provides coverage to fill the gaps in Medicare coverage.
Medicare select
A type of Medicare supplements (Medigap) plan sold in some states that can be any of the standardized Medigap plans (A-N) but which requires policy holder to receive services from within a defined network of hospitals and - in some cases - doctors in order to be eligible for full benefits.
Medicare Part D
A program that offers a prescription drug benefit to help Medicare beneficiaries pay for the drugs they need.
The drug benefit is optional and is available to anyone who is entitled to Medicare Part A or enrolled in Part B.
This benefit is available through private prescription drug plans (POPs) or Medicare Advantage (PPO) plans.
Long-Term Care Insurance
Refers to the broad range of medical and personal services for individuals (often the elderly) who need assistance with daily activities for an extended period of time.
Skilled Nursing Care
Daily nursing care ordered by a doctor; often medically necessary.
It can only be performed by or under the supervision of skilled medical professionals and is available hours a day.
Custodial Care
The level of health or medical care given to meet daily personal needs, such as dressing, bathing, getting out of bed, and so on.
Though it does not require medical training, it must be administered under a physician’s order.
Home Health Care
Skilled or unskilled care provided in an individuals home, usually on a part-time basis.
Adult Day Care
A type of care (usually custodial) designed for individuals who require assistance with various activities of daily living, while their primary caregivers are absent.
Offered in care centers.
Respite Care
A type of health or medical care designed to provide a short rest period for a caregiver.
Characterized by its temporary status.
Core Benefits
All Medicare Supplement plans cover coinsurance on hospital costs, up to an additional 365 days after Medicare Part A hospital benefits run out.
Long-Term Care Partnership Programs
The Long-Term Care Partnership Program is a Federally-supported, state-operated initiative that allows individuals who purchase a qualified long term care insurance policy or coverage to protect a portion of their assets that they would typically need to spend down prior to qualifying for Medicaid coverage.
Continuing Care
Designed to provide a benefit for elderly individuals who live in a continuing care retirement community.
