Activities of daily living (ADLs)
Everyday personal tasks such as bathing, dressing, eating, using the toilet, moving between a bed and chair, and walking.
Plain language, at last
The later-life glossary.
Retirement and care come with a new vocabulary. Here are the terms you're most likely to meet, translated into ordinary language.
A
Advance directive
A legal document that records health-care wishes or names someone to make health decisions if you cannot speak for yourself. Requirements vary by state.
Aging in place
Living in the home and community you choose as you get older, with changes or support when needed.
Annuity
A contract, usually with an insurance company, that can turn a lump sum or series of payments into income. Fees, guarantees, and access rules vary widely.
B
Beneficiary
A person, trust, charity, or other entity named to receive money or property from an account, policy, trust, or estate.
Benefits coordination
The rules insurers use to decide which plan pays first when a person has more than one kind of health coverage.
C
Care plan
A written picture of someone's needs, goals, services, medicines, responsibilities, and points of contact.
Caregiver
Someone who provides unpaid or paid help with daily life, health needs, transportation, coordination, finances, or emotional support.
COBRA
A federal law that may let eligible people temporarily continue employer health coverage after certain events. It is not treated the same as current-employment coverage for every Medicare rule.
Coinsurance
The share of a covered health-care cost you pay, often expressed as a percentage, after any deductible rules are met.
D
Deductible
The amount you generally pay for covered services before a health or insurance plan begins paying under its rules.
Durable power of attorney
A legal document naming someone to act for you in defined matters if needed. Financial and health-care powers are usually separate, and state rules differ.
E
Estate
Everything a person owns or controls at death, along with debts and obligations that must be addressed.
Executor
The person appointed to carry out a will and administer an estate, subject to state law and court procedures.
F
Fiduciary
A person or organization legally required to put another person's interests first in a particular role or relationship.
Full retirement age
The age at which Social Security retirement benefits are not reduced for early claiming. It depends on birth year and is not the same as Medicare eligibility age.
H
Health savings account (HSA)
A tax-advantaged account for eligible medical expenses available with certain health plans. Medicare enrollment affects contribution eligibility.
Home health care
Certain health services provided at home, often under a clinician's plan. It is different from ongoing help with housekeeping or personal care.
I
Initial Enrollment Period
For most people, the seven-month window around turning 65 when they can first enroll in Medicare. Different pathways apply in some situations.
Instrumental activities of daily living (IADLs)
Tasks that support independent living, such as cooking, shopping, transportation, managing medicines, paying bills, and using communication tools.
L
Living will
A type of advance directive that states preferences about medical care if you cannot communicate them.
Long-term care
A broad range of services and support for people who need help with daily living over an extended period. It may be provided at home or in a residential setting.
M
Medicare
The federal health insurance program primarily for people 65 and older and certain younger people with disabilities or specific conditions.
Medicare Advantage (Part C)
A private-plan way to receive Medicare Part A and Part B benefits, usually with a network and plan-specific rules. Many plans include drug coverage.
Medigap
Private supplemental insurance that can help pay certain out-of-pocket costs in Original Medicare. Enrollment protections and plan availability depend on timing and location.
P
Pension
A retirement plan designed to pay income according to the plan's formula or terms, often based on pay and years of service.
Probate
A state-law court process for validating a will, appointing an estate representative, addressing claims, and distributing certain property.
R
Required minimum distribution (RMD)
A minimum amount that many retirement-account owners or beneficiaries must withdraw under federal tax rules. Timing and exceptions are fact-specific.
Respite care
Planned or emergency short-term relief for a caregiver, provided at home, in a day program, or in a residential setting.
Rollover
Moving eligible retirement savings from one plan or account to another while following tax rules. Direct rollovers can avoid some withholding and timing risks.
S
Social Security
A federal program that provides retirement, disability, survivor, and family benefits based on covered work and program rules.
Special Enrollment Period
A time outside standard enrollment windows when a qualifying event or circumstance allows a person to enroll or change coverage.
Survivor benefit
A benefit that may be available to certain family members after a worker or beneficiary dies. Eligibility and claiming rules differ from retirement benefits.
T
Trust
A legal arrangement in which a trustee manages property for named people or purposes under written terms.
Trustee
The person or organization responsible for managing trust property and following the trust's terms and fiduciary duties.
W
Will
A state-law legal document that directs how certain property should be handled after death and may name an executor or guardian.