Senior Living Dictionary
A comprehensive list of terms used in the senior living industry
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| Our Glossary can
help you learn about commonly used terms and the different senior housing
and care choices available. |
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| Managed Care |
| There is currently no standard definition of managed care, but it can best be described as a combination of insurance and a health care delivery system. The basic goal of managed care is to coordinate all health care services received to maximize benefits and minimize costs. Managed care plans use their own network of health care providers and a system of prior approval from a primary care doctor in order to achieve this goal. Providers include: specialists, hospitals, skilled nursing facilities, therapists, and home health care agencies. |
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| Medicaid |
| A jointly funded medical financial Federal-State health insurance assistance program, offering benefits to individuals with limited financial resources, the disabled, and the elderly. There are income eligibility criteria which must be met to qualify for Medicaid. Medicaid accounts for about 52 percent of the nation's care costs, and is the source of payment for almost 70 percent of residents in nursing homes. The person must have exhausted nearly all assets and be in a nursing facility that participates in this program. Medicaid can reimburse Nursing Facilities for the long-term care of qualifying seniors, and in some states, Medicaid pays for Assisted Living care through Medicaid waivers. |
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| Medical Director |
| A staff medical director assumes overall responsibility for the formulation and implementation of all policies related to medical care. The medical director also coordinates with an individual's personal physician to ensure that the facility delivers the care that is prescribed. In some instances, the medical director may be a resident's primary physician. |
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| Medicare |
| Nationwide medical insurance program administered by the Social Security Administration for individuals 65 and over and certain disabled people, regardless of income. Provides for hospital and nursing facility care (Part A) and physician services, therapies, and home health care (Part B). |
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| Medications Management / Medication Administration |
| Formalized procedure with a written set of rules for the management of self-administered medicine, as in an assisted living setting. A program may include management of the timing and dosage for residents, and could include coordination with a resident's personal physician. The resident must take the medication him or herself. For instance, the facility can remind the resident that she needs to give herself the medicine injection, but the facility cannot perform the actual injection itself. |
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| Medigap Insurance |
| Private health insurance policies that supplement Medicare coverage, covering health care costs above those covered by Medicare Part A or Part B. Does not provide benefits for long term care, covering primarily hospital and doctor bills. |
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