“Considering Hybrid Long-Term Care Insurance? Policy Differences To Understand Before Buying”

“Considering Hybrid Long-Term Care Insurance? Policy Differences To Understand Before Buying,” by Jesse Slome, Benzinga

 

Quote:

“When it comes to hybrid long-term care policies, there are two Internal Revenue Codes (IRC) that define policies. The first is IRC Section 7702B. This section applies to policies defined as long-term care insurance. The second is IRC Section 101(g).  This section defines coverage considered chronic illness coverage.  Indeed, the code specifically says that 101(g) policies may NOT be marketed in any manner as long-term care coverage. You won’t find the words ‘long-term care’ in any of the insurance company’s promotional material.  You will likely see references to nursing home care, assisted living, home care but not the words long-term care.”

 

 

LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:

 

AALTCI president Jesse Slome sorts out the differences for confused consumers.