DEFINITION of 'Gatekeeper'

Requirements that must be met before an individual can qualify for a long-term care plan. A person must qualify for the plan's benefits before he or she can be paid out.

BREAKING DOWN 'Gatekeeper'

These standards are called gatekeepers because they are what stands between the individual and the policy payouts.

RELATED TERMS
  1. Qualified Retirement Plan

    A plan that meets requirements of the Internal Revenue Code and ...
  2. Active Participant Status

    Active-participant status is a reference to an individual's participation ...
  3. Direct Rollover

    A distribution of eligible rollover assets from a qualified plan, ...
  4. Qualifying Relative

    A federal income tax designation that allows a taxpayer to claim ...
  5. Dependent Care Credit

    A nonrefundable tax credit offered to taxpayers who pay out-of-pocket ...
  6. Qualifying Annuity

    This type of annuity is similar to any other, except that it ...
Related Articles
  1. Financial Advisor

    The 401(k) and Qualified Plans Tutorial

    Learn about eligibility requirements, contributions and distribution rules for these retirement plans.
  2. Retirement

    Why Own Life Insurance in a Qualified Retirement Plan?

    What are the pros and cons of owning cash value life insurance in a qualified retirement plan?
  3. Retirement

    Comparing Qualified And Non-Qualified Plans

    Qualified and non-qualified retirement plans are created by employers to benefit their employees.
  4. Retirement

    Asset Distributions A Key Consideration For Retirees

    How you distribute qualified retirement plan money can affect your taxes and Social Security benefits.
  5. Financial Advisor

    Advising FAs: Explaining Estate Planning to a Client

    As the old saying goes, you can't take it with you. For this reason, it is important to have a current estate plan in place to protect your family and belongings.
  6. Retirement

    5 Lesser-Known Retirement And Benefit Plans

    These plans aren't widely used, but they fill a specific niche for employees in certain situations.
  7. Financial Advisor

    How Linked Benefit Insurance Policies Work

    Linked benefit policies can be a viable alternative to traditional long-term care insurance. Here's how they work.
  8. Insurance

    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. Retirement

    An Introduction To The Keogh Retirement Plan

    Learn more about this popular defined-contribution retirement plan that many business owners, proprietors, and self-employed people can benefit from.
  10. Trading

    3 Questions To Find Your Trading Plan

    Ask yourself these three questions to figure out which strategy is best for you.
RELATED FAQS
  1. What is a gatekeeper?

    A gatekeeper is a health insurance term used to describe the person in charge of a patient's treatment. Anyone who receives ... Read Answer >>
  2. Who is eligible for a qualified retirement plan?

    Meeting eligibility requirements for a qualified retirement plan vary but generally dictate a minimum age and a the amount ... Read Answer >>
  3. What is the difference between qualified and non-qualified plans?

    Qualified and non-qualified retirement plans are created by employers with the intent of benefiting employees. The Employee ... Read Answer >>
  4. Is a 401(k) a qualified retirement plan?

    Examine the different types of qualified retirement plans, and discover if a 401(k) meets the definition of a qualified retirement ... Read Answer >>
  5. Is an individual/independent 401(k) a qualified plan?

    Surpassing the SEP IRA plans previously popular with self-employed individuals, the individual 401(k) plan is a qualified ... Read Answer >>
  6. Is an IRA a qualified plan?

    Learn about the definition of a qualified retirement plan and some of the features and benefits of individual retirement ... Read Answer >>
Hot Definitions
  1. Graduate Management Admission Test - GMAT

    A standardized test intended to measure a test taker's aptitude in mathematics and the English language. The GMAT is most ...
  2. Magna Cum Laude

    An academic level of distinction used by educational institutions to signify an academic degree which was received "with ...
  3. Cover Letter

    A written document submitted with a job application explaining the applicant's credentials and interest in the open position. ...
  4. 403(b) Plan

    A retirement plan for certain employees of public schools, tax-exempt organizations and certain ministers. Generally, retirement ...
  5. Master Of Business Administration - MBA

    A graduate degree achieved at a university or college that provides theoretical and practical training to help graduates ...
  6. Liquidity Event

    An event that allows initial investors in a company to cash out some or all of their ownership shares and is considered an ...
Trading Center