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
- Adaptive/Assistive Equipment An appliance or device which assists an individual in caring for themselves or performing work or leisure activities.
- Ombudsman A professional who investigates and resolves complaints on behalf of residents of nursing homes and other long-term care facilities.
- Advance Directive A legal document, also referred to as a medical directive, that documents an individual's preferences regarding the manner in which they would like to receive health care, in the event they can no longer communicate such wishes directly. Living Wills...