private insurance plans for seniors

Adult Day Care

Adult Day Care is designed for those who require assistance with various activities of daily living, while their primary caregivers are absent.

taxation of LTC policies

qualified LTC insurance contracts are treated in the same manner as accident and health insurance contracts. Amounts received under an LTC contract are excluded from income because they are considered amounts received for personal injuries and sickness. There is a limit on these amounts and these limits are adjusted for inflation annually. Qualified long-term care insurance premiums paid by an employer are generally excluded from an employee's gross income.

respite care

respite care is designed to provide a short rest. For a family caregiver

three categories of long-term care

skilled nursing care is continuous, around-the-clock care provided by a licensed medical professionals under the direct supervision of a physician. Skilled nursing care is usually administered in nursing homes, custodial care facilities, and hospitals. intermediate nursing care provided by registered nurses, licensed practical nurses, and nurses aides under the supervision of a physician on intermittent basis. custodial care provides assistance in meeting activities of daily living requirements such as bathing dressing walking eating and toileting.

long-term care coverages continued

some people will suffer from chronic conditions, such as arthritis, heart disease, or hypertension, which are treatable but not curable illnesses. Over time, a chronic condition frequently goes beyond being a nuisance and begins to inhibit a person's Independence. Each application for a long-term care insurance shall contain clear and unambiguous questions to determine the health condition of the applicant accept applications for guaranteed issue. All long-term care policies must be guaranteed renewable. Long-term care coverage typically offers inflation protection which allows for periodic increase in policy benefits due to inflation the guarantee of insurability option provides the insured with the ability to purchase additional insurance at a later date without evidence of insurability. Most long-term care policies on a reimbursement or expense incurred basis up to the policy limits benefits are usually or limited for Addictive Behavior Rehabilitation. most long-term care policies may only exclude losses due to pre-existing condition for up to six months following the effective date of coverage. Most long-term care policies have a free-look period of 30 days after its delivery

Assisted Living

housing for elderly or disabled people that provides nursing care, housekeeping, and prepared meals as needed. This would suit an individual who needs some nursing care provision but not full-time care. When individuals are in need of assistance with one or two activities of daily living, they may be eligible for an assisted living facility

home and community-based service

Home Health Care is care provided in the insurance home, usually on a part-time basis. It can include skilled care or unskilled care.

Medicare Part D

Medicare Part D is a prescription drug plan administered by one of several private insurance companies, each offering a plan with different costs and list of drugs that are covered. Participation in part D requires payment of premium and deductible.

Medicare select

Medicare select plan sometimes called Medicare Advantage or Medicare Part C is a type of Medicare supplement that works like a managed healthcare plan. You have to choose providers that belong to a network except in cases of emergencies. HMO PPO, and private fee for services are all types of Medicare Advantage plans. with a Medicare select plan, the insured agrees to use preferred providers, and in exchange pay a lower premium. In addition to the premium, Medicare Advantage enrollees normally must pay a small co-payment per visit or per service. Medicare Part C does not cover long-term care.

Medicare supplements

Medicare supplement insurance policies are sold by private insurance companies to cover medical costs not covered by the government in Medicare Parts A & B Medicare supplements are designed for individuals who are enrolled in Medicare, however there is no minimum age requirement. As of June 2010, there are 10 standardized Medicare supplement plans. Each of the ten plans have the letter designation of a, b, c, d, f, g, k, l, m, m. these policies were standardized by the National Association of insurance commissioners to help consumers understand and compare them and make informed buying decisions. Medicare supplement policies sometimes provide preventative medical care benefits such as annual physical exams. And Medicare supplement policy must not contain benefits which duplicate Medicare benefits.

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. I'll medical policies also cover at least part of these cost. Medicare part A hospice co-insurance or co-payments. Medicare Part B coinsurance payment first 3 pints of blood received as a hospital inpatient.

Continuing Care

designed to provide a benefit for elderly individuals who live in a Continuing Care Retirement Community.

Medicare supplements continued

individuals over 65 who have just enrolled in Medicare Part B for the first time cannot be refused and Medicare supplement policy and cannot be rated if they apply for coverage within six months of Part B enrollment in other words, Medicare supplements must be guaranteed issue during open enrollment. all medical supplement policies must be guaranteed renewable,. Hospice Care is included in most standard Medicare supplement insurance policies. Hospice Care typically offers a family counseling benefit. Medicare supplement policies typically provide foreign travel emergency Health Care coverage as a core benefit when you travel outside the US. An insurer can cancel a Medicare Supplement Plan after the non-payment of premiums. In general the following six minimum standards apply to all policies designated as Medicare supplement insurance, the policy must supplement both part A and Part B of Medicare. The policy must automatically adjust its benefits to reflect statutory changes in Medicare if the policy excludes coverage for pre-existing conditions, the exclusion cannot exist for longer than 6 months. That is, no coverage can be denied as pre-existing condition after the policy has been in effect for six months. Part B expenses not covered by Medicare that is, the 20% co-payment, must be covered by the Medicare supplement policy, up to a maximum of $5,000 per year. However, policies may include a deductible before this benefit becomes payable thought the policy must include a minimum 30 day free look provision.

what is long-term care insurance

is similar to most insurance plans in that the insured receives specified benefits in the event long-term care is required. Most LTC policies pay the insured a fixed dollar amount for each day the policy covers, regardless of what the care costs

long-term care coverages

long-term care insurance is typically designed to provide coverage for a minimum benefit period of one year. The cost of a long-term care policy is based on age , health condition, such as pneumonia or influenza, which the body can fully recover with proper medical attention. A comprehensive long-term care policy will typically not cover expenses associated with acute care provided in a hospital. Traditional reimbursement long-term care insurance policies pay benefits based upon the actual expenses that are incurred, subject to policy limits. The most long-term care policies Define a pre-existing condition as a condition for which medical Advance or treatment was recommended by or received from a healthcare provider within six months preceding the effective dates

long-term care partnership programs

long-term care partnership program is a federally-supported, state-operated initiative that allows individuals who purchased 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

what is long-term care?

you often see nursing home care referred to as long-term care. However, long-term care refers to a broad range of medical, personal, and environmental services designed to assist individuals who have lost the ability to remain completely independent in the community. Long-term care policies require that in order for an insured to be qualified for benefits they must be unable to perform a minimum of two activity of daily living. activities of daily living are considered the basic tasks of everyday life, such as dressing, eating, bathing and mobility. In long-term care insurance, the benefit. Is the length of time for which claims will be paid. Although care must be provided for short periods of time while the patient is recuperating from an accident or illness, LTC refers to care provided for an extended. Of time normally more than 90 days. depending on the severity of the impairment, assistance may be given at home, at an adult care center, or a nursing home. Most long term care policies also pay benefits for cognitive impairment such as Alzheimer's disease or other dementia