Our Blog

Long Term Care Insurance Protects What the Government Does Not

November 2015

One of the biggest reasons consumers don’t create long term care plans is because they believe the government will pay for it. In reality, Medicare only pays for short-term, skilled nursing home care following hospitalization and state Medicaid programs require recipients to spend down to the poverty level in order to qualify for assistance. Other […]

VA Benefits and Long Term Care

November 2015

We are extremely thankful for all the sacrifices that our servicemen and women make to protect our freedoms.  As such, we want to ensure that they take steps to protect themselves and their loved ones from the devastating impact of a long term care event.  Our office is located right next door to one of […]

Dollar for Dollar Asset Protection, Should You Need Long-Term Care

October 2015

To encourage Americans to take more personal responsibility for covering their long-term care costs, federal lawmakers have helped design state partnership programs.  These partnership programs are now available in the majority of states. To receive Medicaid assistance under normal standards, applicants must first spend down all of their assets to $3,000 or less. However, with […]

New Limits for Long-Term Care Premium Deductibility Issued by IRS (updated for 2019)

October 2015

For self-employed individuals, including LLC, PA, S-corporations and partnerships, the 2% or more owners of these entities can deduct 100% of the eligible (age indexed) LTCI premiums paid on their behalf, their spouses and dependents for Tax Qualified LTCI policies. Please refer to the age indexed chart below for eligible premiums. Premiums paid on behalf […]

Federal Government Offers Tax Breaks for Long-Term Care Planners

October 2015

In 1997, the federal government began offering tax incentives to reward people for buying long-term care insurance, including tax-qualified policies. Congress created tax-qualified policies to encourage consumers and insurance companies to embrace long-term care insurance. Under a tax-qualified policy, insurance premiums qualify as itemized deductions on federal tax returns. Additionally, benefits from a qualified policy […]

Uncle Sam doesn’t want to pay for your Long-Term Care

October 2015

It is a common misconception that Medicare and health insurance will provide long-term care coverage when it becomes a necessity. Individuals also believe that Medicaid will cover all of their long-term care needs.  In reality, it is quite the opposite. It surprises many when they learn that Medicare and most health insurance plans do not […]

Government Rewards People who Plan for their Long-Term Care

October 2015

The U.S. Census estimates that roughly 83 million Americans qualify for long-term care insurance. Yet, more than 76 million people have no stand-alone long-term care coverage. Since many people still believe that government programs like Medicare and Medicaid will cover the costs of long-term care, these numbers aren’t surprising. In reality, there is no comprehensive […]