KIRKLAND, WA - April 19 (SEND2PRESS NEWSWIRE) -- Starting this Spring, a series of public seminars will enlighten New Yorkers on affordable financing of long term care. Under the Empire State's umbrella, residents will learn how to get private long term care insurance that is sweetened by tax breaks and relaxed Medicaid rules. The seminars will be held in convenient locations throughout the state.
"We applaud New York for taking this step," says Cameron Truesdell, CEO of LTC Financial Partners, the nation's most experienced long term care insurance brokerage. "All states should follow suit. Their citizens, especially Baby Boomers, need to be informed. They need to know that long term care is something they should plan for. It doesn't have to come as a surprise or drain their resources." With the new legislation, insurance protection is now more affordable than ever. "People need to know that," Truesdell says.
For the past few years, New York has been a long term care "partnership" state, along with California, Connecticut, and Indiana. The so-called "state partnerships" have a win-win aim: to make Medicaid work together with private long term care insurance to protect middle-income people without busting state budgets. More recently, Iowa became a "partnership" state; and on February 8, President Bush signed legislation designed to bring all 50 states into the public-private "partnership" fold.
"A wonderful new legal foundation has been laid," says Truesdell. "Now specific programs need to be constructed by the governors and state legislatures. Hopefully programs like New York's will spring up everywhere."
Truesdell's organization offers free guidebooks on long term care insurance. They are available at http://www.eranova.com/LTCFP/partnerships.htm
Also available, at the same site, are links to the "partnership" programs including New York's educational initiative.
Specializing in just one area, long term care insurance, LTC Financial Partners has over 160 licensed agents in all parts of the nation. They are certified to sell "partnership" coverage in all states offering certification, with a choice of policies from multiple leading carriers including Allianz, MetLife, MedAmerica, Penn Treaty, Prudential, John Hancock, Physicians Mutual, and Unum Provident.
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