Long-Term Care Insurance Partnership Program The partnership program is designed to provide incentives for people to take personal responsibility for their own care by purchasing long-term care insurance. The program was designed to reduce Medicaid costs for nursing...
Tax-Qualified Long-Term Care Insurance Policy = A policy that conforms to certain standards in federal law and offers certain federal tax advantages. What does the IRS say about qualified long-term care insurance contracts: A qualified long-term care insurance...
Cash Benefit = A feature in a long-term care insurance policy that allows the policy benefits to be used by the policyholder in any way he/she chooses. A “cash benefit” is often used to pay a family member to provide care. A “cash benefit”...
