Long Term Care Insurance
A type of insurance coverage for long term care expenses. Most policies are sold to individuals through insurance agents but employers can also offer long term care insurance at a group discount. With an employer group policy, the insurance company is not allowed to cancel coverage after an individual's employment ends or the employer cancels the plan. The policy is intended to cover long term care services such as assistance with activities of daily living or medical care required to manage a chronic condition and will generally cover some of, if not all, the costs associated with skilled nursing facilities, residential care homes, assisted living or other types of similar facilities. In addition, the policy may cover home health care and other costs of care depending upon the terms of the policy.
More Common Terms
- Acute care Any treatment to diagnose, prevent, or cure an illness or to provide primary care. Treatments can be provided in an outpatient or inpatient setting.
- Emphysema A chronic lung condition in which the air sacs in the lungs become overstretched, causing a breakdown of their walls and resulting in decreased resiratory function.
- Speech Therapy Individual or group therapy sessions that help an individual overcome communication conditions such as aphasia, swallowing difficulties, and voice disorders.