Contingent Nonforfeiture
The opportunity in all tax-qualified Long-Term Care policies to provide the policyholder options in the event the insurance company gets approved a rate increase of over a certain percentage as listed in the policy.
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
Third Party Notification
A third-party notification is a built-in consumer protection feature in a Long-Term Care Insurance policy that allows the policyholder to designate one or more individuals to receive notice from the insurance company if the policy is in danger of lapsing due to non-payment of premiums.
Categories
Topics
Care Types
Medically Necessary Care
Reasonable and appropriate diagnosis, treatment, and follow-up care (including supplies, appliances, and devices) as determined and prescribed by qualified appropriate health care providers.
Sandwich Generation
The sandwich generation describes individuals who care for their elderly parents while trying to raise their own children. These individuals often find themselves sandwiched between caring for two generations.
Exceptions/Exclusions
These usually include care which is required as a result of an act of war, care required as a result of an intentionally self-inflicted injury, and care required as a result of alcoholism or drug addiction
Palliative Care
Palliative care is assistance that addresses both emotional and physical needs.
Certified Nursing Assistant (CNA)
A certified nursing assistant (CNA) provides mostly basic and custodial care to individuals in several care settings.
Criminalization
Criminalization is persons who knowingly and willfully dispose of assets in order to become eligible for Medicaid payment of Long-Term Care expenses are subject to criminal penalties if doing so results in a period of ineligibility for Medicaid benefits.
Waiver of Premium
A provision that a policyholder of a Long-Term Care Insurance policy will not have to pay the premiums after receiving benefits from a policy.
Bathing
Bathing is an activity of daily living, generally defined as the ability to wash oneself.
Health Savings Account (HSA)
Health savings accounts (HSAs) are tax-free savings accounts that can help pay for qualified medical expenses.
Personal Care
This is non-medical care and assistance needed to help a person perform activities of daily living and/or supervision and assistance for someone suffering from a severe cognitive impairment.
Stability
Stability is how a condition affects an individual and how receptive that condition is to treatment and medications. A stable condition is one that can be well-managed with treatment.