benefit period

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benefit period

A period of hospital or skilled nursing use by the beneficiary of an insurance policy, which begins on the day of admission and ends when the recipient has not received hospital or skilled nursing care for 60 consecutive days. The beneficiary must pay the inpatient hospital deductible for each benefit period; there is no limit on the number of benefit.

The period during which a Medicare beneficiary is eligible for Part-A benefits. A typical benefit period is 90 days, which begins the day the patient is admitted to a hospital and ends when a person has not been hospitalised for a period of 60 consecutive days.

ben·e·fit pe·ri·od

(benĕ-fit pērē-ŏd)
Classification used by Medicare to define the period starting with the first day of hospitalization and ending when the patient has been out of the hospital for 60 consecutive days.
References in periodicals archive ?
Thus, the most recent advancements with respect to leave and benefits involve recognition of both parents' entitlement to leave and benefits, plus the lengthening of leave and benefit periods for adoptive parents.
However, to prove they were not found guilty, these individuals will have to wait for the outcome of their judicial proceedings before requesting an extension of their qualifying and/or benefit period.
At the time of purchase, of course, no one knows the length of benefit period needed.
As an alternative to lifetime coverage, John Hancock developed a new benefit period for Leading Edge: 5 Years Plus $1 Million Dollars.
The claims are also supposed to help maintain accurate benefit period information.
The face amount, elimination period, benefit period and benefit eligibility for the disability benefit are defined in a way that requires minimal extra explanation by the agent.
Since benefit periods begin at the time of loss (following any elimination period), an alternative view for using them is to reduce ex post moral hazard.
The product also offers a choice of benefit waiting periods and maximum benefit periods.
Typically, DI benefits protect an insured individual's ability to earn an income during his or her normal working years and offer maximum benefit periods to ages 65, 67 or 70.
Longer elimination provisions--This option saves premiums in favor of longer benefit periods, such as five years or a lifetime.
Issue ages are 18 to 55, and benefit periods are two years, five years or to age 65.