Medicaid (MediCal in California or MassHealth in Massachusetts)
Medicaid is a government-funded medical aid program. Medicaid aims to help low-income individuals pay for medical and long-term care.
The Complete Glossary on Long-Term Care
Explore clear, easy-to-understand definitions of the terms and concepts that shape long-term care planning. Whether you’re researching coverage options, care types, or planning terms, our glossary helps you make sense of the details so you can plan with confidence.
Term of the Day
Asset-Based Long-Term Care Policy
Generally referred to as a hybrid policy, this is an insurance policy which combines a life insurance policy or annuity with a rider for Long-Term Care.
Categories
Topics
Care Types
Compound Inflation
A compound inflation rider increases Long-Term Care Insurance benefits by a set percentage each year. Because this percentage is compounded, the benefits increase based on the new total. This can help offset increasing care costs.
Countable Assets
Countable assets are owned items or money evaluated when determining Medicaid eligibility.
Continuing Care Retirement Community (CCRC)
A residential retirement community where a variety of living and medical services are provided to residents who are in need of continuous care and/or supervision.
International Benefits
This is a provision is some Long-Term Care Insurance contracts which allows for the insured to receive benefits outside the United States and U.S. territories.
Benefit Period
The benefit period is the minimum period of time policyholders can receive Long-Term Care Insurance benefits.
Inpatient Care (Inpatient Facility)
Inpatient care is when an individual needs intense overnight treatment for a serious or life-threatening health condition.
Continence
The ability to maintain control of bowel and bladder function; or, when unable to maintain control of bowel or bladder function, the ability to perform associated personal hygiene (including caring for catheter or colostomy bag).
Severe Cognitive Impairment
Loss or deterioration in mental capacity that is comparable to Alzheimer's Disease and similar forms of irreversible dementia.
Elimination Period
An elimination period is a time between qualifying for Long-Term Care Insurance benefits and receiving them. These are also referred to as waiting periods.
Estate Recovery
Estate recovery is when the government takes part of an individual's estate after they pass away to reimburse itself for the cost of Medicaid long-term care.
Rate Stability Rules
Developed by the National Association of Insurance Commissioners (NAIC), these are rules put in place to make it more difficult for insurance companies to raise premiums on Long-Term Care Insurance.