Custodial Care

What is 'Custodial Care'

Custodial care is non-medical care that helps individuals with his or her activities of daily living, preparation of special diets and self-administration of medication not requiring constant attention of medical personnel. Providers of custodial care are not required to undergo medical training.

BREAKING DOWN 'Custodial Care'

Most public long-term care (LTC) programs such as Medicaid cover custodial care as long as it is provided within a nursing facility. Custodial care at home is typically covered only under LTC insurance - not by Medicaid - even though home care is cheaper than a nursing facility. Medicare, on the other hand, covers only medically necessary, skilled care and will cover at-home custodial care only if it is provided in conjunction with skilled care.

RELATED TERMS
  1. Group-Home Care

    Care given to a group of people with similar disabilities within ...
  2. Long-Term Care (LTC) Insurance

    Coverage that provides nursing-home care, home-health care, personal ...
  3. Long-Term Care Ombudsman

    A government official who oversees nursing homes and assisted ...
  4. Medicaid

    A joint federal and state program that helps low-income individuals ...
  5. Custodial Account

    1. An account created at a bank, brokerage firm or mutual fund ...
  6. Skilled Nursing Facility

    A special facility or part of a hospital that provides services ...
Related Articles
  1. Retirement

    Failing Health Could Drain Your Retirement Savings

    You may not be able to prevent illness, but it doesn't have to infect your savings.
  2. Your Clients

    Long-Term Care: How and Why You Should Plan for It

    The likelihood of needing long-term care is higher than most people realize. Here are some ways to plan for it.
  3. Retirement

    LTC Insurance: The Umbrella Every Boomer Needs

    The costs of long-term care can be astronomical. Protect your nest egg with LTC insurance.
  4. Insurance

    Why You Need A Plan For Long-Term Care

    Long-term health costs can wipe out entire retirement savings. Be sure to plan ahead with long-term care insurance.
  5. Retirement

    How to Choose a Residential Care Home

    When an elderly loved one needs supervision, a residential care facility can be the closest thing to living at home.
  6. Insurance

    Your Complete Guide to Long-Term Care Insurance

    Learn everything you need to know about this critical insurance: what it is, what it covers, when to buy it, the cost, which companies offer it and more.
  7. Retirement

    Top 5 Strategies To Pay For Elder Care

    The cost of a nursing home, assisted living facility or home care can be ruinous. Try these routes to help seniors qualify for Medicaid and pay the bills.
  8. Home & Auto

    Long-Term Care Insurance: Who Needs It?

    No one is immune to the possibility of one day needing long-term care - and the costs can deplete a life savings.
  9. Your Clients

    Long-Term Care: How Medicaid Stacks Up

    Clients who think Medicaid is a good option for long-term care usually don't know the rules that come with the process of applying for it.
  10. Financial Advisors

    Helping Clients Choose Long-Term Care Insurance

    The need for long-term care has become an inescapable (and pricey) issue for retirees. Here's what financial advisors can do to help.
RELATED FAQS
  1. When is the best time to purchase long-term care insurance?

    Long-term care insurance (LTCI) covers the risk that individuals may need medical and custodial care, either at home or in ... Read Answer >>
  2. What is long-term care insurance?

    Long-term care insurance is an insurance policy that that helps a patient pay for long-term care. The policy usually covers ... Read Answer >>
  3. Does Medicare provide assistance for patients unable to perform Activities of Daily ...

    Find out how Medicare provides some benefits, both direct and indirect, for those who are unable to perform some of the activities ... Read Answer >>
  4. What are activities of daily living (ADL)?

    Activities of daily living (ADL) refer to daily activities that individuals normally do, unassisted, to take care of themselves. ... Read Answer >>
  5. What role does the agency problem play in the modern Health Care industry?

    Read about the role of the principal-agent problem in the modern American health care industry, and learn why health insurance ... Read Answer >>
  6. I want to buy a stock for my 2-year-old nephew under a custodial account. If I buy ...

    If the answer is yes, is there anyway around that like if I reinvest the money into a different stock within the year? ... Read Answer >>
Hot Definitions
  1. Over-The-Counter - OTC

    Over-The-Counter (or OTC) is a security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, ...
  2. Quarter - Q1, Q2, Q3, Q4

    A three-month period on a financial calendar that acts as a basis for the reporting of earnings and the paying of dividends.
  3. Weighted Average Cost Of Capital - WACC

    Weighted average cost of capital (WACC) is a calculation of a firm's cost of capital in which each category of capital is ...
  4. Basis Point (BPS)

    A unit that is equal to 1/100th of 1%, and is used to denote the change in a financial instrument. The basis point is commonly ...
  5. Sharing Economy

    An economic model in which individuals are able to borrow or rent assets owned by someone else.
  6. Unlevered Beta

    A type of metric that compares the risk of an unlevered company to the risk of the market. The unlevered beta is the beta ...
Trading Center