Although Long Term Care Insurance Partnership Programs can be of tremendous benefit to buyers in most states, a report released last month by America's Health Insurance Plans (AHIP) reveals that only 25% of individuals age 50+ know if partnership type policies are available in their state.

The National LTC Network has published a Guide that makes it easy for anyone to see if their state does indeed participate. Entitled "Tax Breaks and Incentives for Long Term Care Insurance," the Guide includes a comprehensive listing of whether or not each state participates in Partnership. A free copy of the Guide may be obtained by contacting any member of The Network or their affiliated producers. Find a Network member here

The AHIP report, "Who Buys Long-Term Care Insurance in 2010 – 2011? A Twenty-Year Study of Buyers and Non-Buyers (in the Individual Market)," describes Partnership Programs as "designed to enable individuals who purchase qualified long-term care insurance policies to access Medicaid benefits without having to spend down their assets to Medicaid levels."

"In other words, states reward people with Partnership LTCI policies by allowing them to potentially shelter assets that otherwise would have to be spent down, in the event their need for care exceeds the limits of the policy design they chose," commented Terry Truesdell, President and CEO of The National LTC Network. "According to the AHIP report, 45% of the respondents said they would likely purchase LTCI if their state participated, but there seems to be little awareness of whether a particular state participates or not."

The member firms and producers of the National LTC Network have published a Guide that makes it easy for anyone to see if their state does indeed participate. In addition to information on each state's status regarding Partnership Program participation, the Guide "Tax Breaks and Incentives for Long Term Care Insurance," includes a comprehensive listing of state-specific tax incentives, as well as an overview of federal incentives.

A free copy of the "Tax Breaks and Incentives" Guide may be obtained by contacting any member of The Network or their affiliated producers. Find a Network member here