What Is Qualified Long Term Care Insurance?

1. 

   12689 POINTS

   view profile
   Ted Ratliff

   Owner, SFS Associates,

   Some states offer a partnership program.  A qualified Long Term Care policy meets certain qualifications that allows it to be sold as a qualified plan.  The advantage is that for every dollar paid out for long term care under your policy, the state will allow you to shelter that amount of assets and still qualify for Medicaid if you policy runs out.  This is a huge benefit if you have a home or other assets you want to leave to your family because it helps shelter a good portion of your assets from Medicaid spend down.

   Answered on June 9, 2013

   flag this answer
Did you find these answers helpful?
Yes
No
Go!

Add Your Answer To This Question

You must be logged in to add your answer.