The Partnership is a joint federal-state policy initiative to promote the purchase of private long term care insurance.   Available in the majority of states, the Partnership Program is intended to expand access to private long term care insurance policy to pay for long term care services.  The program has grown since being introduced initially in four states, California, New York, Connecticut and Indiana.

“The Association has been receiving a number of inquiries by individuals frustrated that no single resource exists where current information regarding approved states is available,” declares Jesse Slome, director of the American Association for Long Term Care Insurance (AALTCI).    ”The Association’s website seemed the perfect resource as thousands of individuals visit the site looking for information.”

An updated list of states is a prominent feature of the new webpage.  “We show effective dates for all 50 states and the District of Columbia as well as which states offer policy reciprocity.  In addition, a number of Frequently Asked Questions are addressed.

The American Association for Long Term Care Insurance is the national trade organization established to provide consumer information and connect interested consumers with professional long term care insurance specialists.  “Some insurance products are commodity products but long term care insurance can be quite complex and working with a knowledgeable specialist is typically the best choice for a consumer,” Slome notes.

To learn more about the organization visit the Association’s website at www.aaltci.org or call 818-597-3227.  For information on the Long Term Care Partnership program go to www.aaltci.org/partnership.

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California long term care insurance costs best obtained by calling AALTCI at (818) 597-3227

Los Angeles; August 16, 2013 – When it comes to long term care insurance costs a new analysis finds a 55-year old couple would currently pay $531 monthly for $438,000 of coverage under a California Partnership long term care insurance policy.   An alternative good plan of coverage with the same immediate benefit would cost the couple about $205 monthly.

“The California Partnership for Long Term Care Insurance was a great concept when it started in the early 1990s but it has failed to change and today very few consumers can or will pay the cost for a Partnership-approved policy,” explains Jesse Slome, executive director of the national long term care insurance industry trade group.  The Los Angeles-based Association examined policy costs for a typical 55-year old couple in standard health.  “Because the Partnership requires individuals purchase policies where future benefit amounts grow at five percent yearly, their cost is as much as 159 percent more than other good insurance available, often from the very same insurance company.”

According to the AALTCI report, a husband and wife who are both age 55 would each pay roughly $100-per-month to each purchase a pool of $220,000 of benefit dollars.  “Most Californians don’t need insurance to pay 100 percent of the costs involved in long term care and $220,000 can buy an awful lot of care even if costs increase in future years,” Slome adds.  “Of course, if you can afford a policy where the benefits will increase each year, that’s well worth considering.”

A California Partnership long term care insurance policy would cost $531 for a couple age 55.   “Their benefit pool will grow and each person will have over $500,000 of benefits when they turn age 75 and over $900,000 for each when they turn age 85,” Slome notes.  “If you want that much coverage and can afford the premiums, this is certainly the Cadillac of coverage but for those seeking good coverage at an affordable cost, the California Partnership plans are no longer a viable option.”

The national long term care insurance expert advises consumers to ask their insurance professional for a ‘Good – Better – Best’ long term care insurance cost analysis.  “Good coverage is a basic amount of coverage that may supplement costs you’ll pay from savings and retirement income including Social Security,” Slome explains.  “Better coverage includes the Guaranteed Purchase Option which allows policyholders to increase benefit amounts in future years and the Best coverage includes the built-in inflation growth option.”

The Association makes available free long term care insurance guides on the organization’s website.  No sign-in information is required to access the guides.  To learn more or to be connected with a designated California long term care insurance specialist call the organization at 818-597-3227 or visit their website.

The California Partnership for Long-Term Care (Partnership) is dedicated to educating Californians on the need to plan ahead for their future long-term care and to consider private insurance as a vehicle to fund that care. The California Partnership for Long-Term Care is an innovative program of the State of California, Department of Health Care Services in cooperation with a select number of private insurance companies.

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