Long-Term Care Insurance

Business / Taxes / Long-Term Care Insurance: Long-term care insurance is a policy designed to cover at least some of your expenses if you have a chronic but not life-threatening illness, long-term disability, or you are unable to live independently because you can’t perform a number of the activities of daily living. Those activities typically include bathing, dressing, feeding yourself, taking medication, using the bathroom, and being able to move from a sitting to a standing position. Most contracts also cover cognitive impairments, such as Alzheimer’s disease. Under the terms of most long-term care contracts, you can be cared for in a nursing home or at home. The insurance pays for custodial rather than skilled care, which must be provided by licensed professionals. That care is covered in part by Medicare and Medigap policies. Every policy provides a specific daily or monthly benefit for up to a predetermined benefit period. Each policy also has an elimination period, which lasts from the day you become eligible until the day the insurer begins to pay. You generally can choose the benefit, benefit period, and elimination period that makes the most sense to you and that you can afford.

Other Words for Care

Care Noun Synonyms: anxiety, worry, trouble, anguish, disquiet, distress, grief, sorrow, dolour, sadness, suffering, misery, woe, tribulation
Care Verb Synonyms: be concerned, trouble oneself, feel interest, worry, fret, trouble, mind
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Other Words for Insurance

Insurance Verb Synonyms: assurance, surety, indemnity, indemnification, guarantee or guaranty, warranty, bond, security, protection, cover
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Medicare Part D

Health / Dentistry / Medicare Part D: A prescription drug benefit for Medicare-eligible seniors and disabled persons. It was established as part of the Medicare Prescription Drug, Improvement and Modernization Act (MMA) that President Bus MORE

Medicare Part C

Health / Health Insurance / Medicare Part C: The part of Medicare that expands the list of different types of entities allowed to offer health plans to Medicare beneficiaries. Also known as Medicare+Choice. See also Medicare. MORE

Medicare Supplement

Health / Health Insurance / Medicare Supplement: A private medical expense insurance plan that supplements Medicare coverage. Also known as a Medigap policy. MORE

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