Genworth Cost of Care Survey Useful resource for cost of care by city, state or zip code
National Association of Insurance Carriers (NAIC): A Shopper’s Guide to Long-Term Care Insurance
LongTermCare.gov: What is Long-Term Care (LTC) and Who Needs it?
LongTermCare.gov: How Much Care Will You Need?
“Someone turning age 65 today has almost a 70% chance of needing some type of long-term care services and supports in their remaining years
“Women need care longer (3.7 years) than men (2.2 years)”
This page gives a breakdown of duration at home care and in facilities.
Medicaid Long Term Care Medicaid Long TermCare.org
Medicaid Estate Recovery Program: Rules, Limits & Variations by State
KFF Health News Latest News On Long-Term Care Excellent news resource
Dying Broke A KFF Health News – New York Times news project. November – December 2023
Hybrid Long Term Care Life Insurance products have either a long term care rider or a chronic illness rider. For example Nationwide has a “Long-term Care Rider II” where American General has a “Accelerated Access Solution®” chronic illness accelerated death benefit rider.
State Guides
New York State Department of Financial Services Long Term Care Insurance
Good resource especially for NY residents. The About Long Term Care section has useful information for non residents. It focuses on stand alone LTC insurance and does not delve into hybrid life/LTC insurance.
California Department of Insurance: Long-Term Care Insurance (LTC)
These resources are mostly for Californians, but the Long-Term Care Rate History Guide reinforces the reason why one should consider hybrid life insurance with chronic illness or LTC benefits for its rate stability.
There is no long term care tax in California only a LTC insurance task force. There have been complaints of false and misleading agent marketing.
Florida Department of Financial Services Long-Term Care Overview
Massachusetts What is Long Term Care Insurance?
“Certain life insurance policies can be used to help finance your long-term care while you are still alive. As with other means of financing, you should check with your financial planner, either an estate lawyer or a qualified advisor, to determine the best course of action for someone in your specific circumstance.”
Minnesota Department of Commerce Long Term Care
Pennsylvania Insurance Department Long Term Care Insurance
Washington state requires LTC coverage WA Cares Fund
Washington state Office of the Insurance Commissioner Long-term care insurance
What is long-term care services
“The OIC determined accelerated benefit riders and critical illness riders do not qualify as LTC insurance products.”
In Washington state the rule of thumb is that the rider must specifically state long-term care in the name of the rider. To be sure you may refer to the long-term care insurance companies approved to sell life insurance/annuities with a LTC rider in Washington state. However the company information, as of December 2023, is over two years old and has the following disclaimer:
“This list may not include all companies approved to sell LTC insurance or LTC riders. We recommend you contact your insurance company to determine if the product you bought, or will buy, complies with the Washington Insurance Code (Title 48) and Washington Administrative Code (Title 284) and is a long-term care policy or rider approved through our office or the Interstate Insurance Product Regulatory Compact (IIPRC).”
Long Term Care Insurance Tax Credits as of tax year 2018: CO, MD, MN, MS, NY, ND