5 – Private Insurance Plans for Seniors

30 days Most Long Term Care policies require a 30-day free look period.

Long-Term Care Long-Term Care policies are designed to provide nursing home benefits on an extended basis of at least twelve consecutive months.

buy additional coverage at a later date In long-term care insurance, the guarantee of insurability option provides the insured with the ability to purchase additional insurance at a later date without evidence of insurability.

68-year old male covered by Medicare Medicare Supplements are available to those covered by Medicare.

Expense incurred Most long-term care policies pay on a reimbursement (or expense-incurred) basis, up to the policy limits.

Pre-existing conditions must be covered after the coverage has been in force for six months Pre-existing conditions are those for which medical advice or treatment was recommended by or received from a health provider within 6 months preceding the effective date of an individual long-term care policy.

home health care A Long Term Care policy will typically pay for home health care.

Acupuncture

available to those who are enrolled in Medicare Part A and Part B Medicare Part C (Medicare Advantage) is offered by private insurers and available to those who are enrolled in Medicare Part A and Part B.

Alcohol rehabilitation Addictive behavior rehabilitation is normally excluded or limited under a Long Term Care policy.

2 A qualified Long Term Care policy must stipulate that the insured be incapable of performing at least two of the ADL's without assistance for at least 90 days to qualify for benefit

6 If a pre-existing condition waiting period applies, the policy must not exclude coverage for any pre-existing conditions that occurred more than 6 months prior to the effective date of coverage. These conditions cannot be excluded beyond 6 months after the policy is issued.

Medicare Supplement In this situation, a Medicare Supplement policy would provide the subscriber the best coverage for excess charges.

Actual covered expenses up to the daily maximum A "reimbursement policy" pays the actual covered expenses up to the daily maximum.

The correct answer is "inpatient hospital services". Medicare Part B is a voluntary program designed to provide supplementary medical insurance to cover physician services, medical services, and supplies not covered under Part A.