Category Archives: Government Programs

1035 Exchange to Fund LTC – What Is It & How Does It Work?

Do you own an annuity or cash value life insurance policy? Are you concerned about protecting your assets from the risk of rising long-term care expenses? You may be in luck.

Section 1035, a little-known provision of the federal tax code, allows policyholders who meet certain requirements to trade in their existing contract or policy tax-free for long-term care insurance.

Learn more about the value of 1035 exchanges and how this provision may benefit you. Continue reading

Long-Term Care Options for Veterans: Veterans in Charge (VIC)

At LTC Consumer, we’re proud of our country’s veterans. We believe this group of men and women deserve the best care and services for the sacrifice they gave to our country.

While not everyone can afford Long-Term Care Insurance, great programs are available for American veterans to make sure they are cared for and given the services they need. Veteran In Charge (VIC) is one of those programs. (LTC Consumer is not affiliated with the Veteran in Charge program.) Continue reading

Medicaid Long Term Care – What Does It Cover?

Some may think Medicaid long term care will pay for all of their needs in the future. While this may be true for some, Medicaid isn’t designed or funded to cover long term care services for everyone.

Medicaid, the government welfare program, typically requires that you have $2,000 or less in qualified assets to be eligible and then only covers “nursing homes that accept Medicaid Welfare patients.” It is a joint federal and state government program that can vary in eligibility by your state of residence. In general, Medicaid helps pay for some or all of the health care bills for individuals with low income and assets. It may also cover certain types of long term care services.

So, what long term care services does Medicaid cover? Here’s what you need to know.

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