Wednesday, November 25, 2009

New Guides Address Increased Tax Deductions For Long-Term Care Insurance

Two new guides explain 2010 tax deductibility rules and limits for individuals and business owners purchasing long-term care insurance.

The "Guide To Tax Deductible Long-Term Care Insurance" was published by the American Association for Long-Term Care Insurance, the industry trade group.

"Tax deductions and credits are going to be increasingly important and a most significant selling point insurance and financial professionals can use to encourage long-term care planning," states Jesse Slome, Executive Director of the American Association for Long-Term Care Insurance. To encourage individuals and small business owners to purchase long-term care insurance the federal government and many states have started offering tax deductions and tax incentives.

The 2010 version of the guide explains tax rules for individuals as well as those who are self-employed or own small businesses. The applicable rules vary including limits for allowable tax deductions.

Tax-deductible limits for individuals can be as much as $4,110 per-individual starting in 2010 based on age. "Small business owners can take advantage of special tax rules that may make the full cost of long-term care insurance tax deductible," Slome adds. "The business can even pay for spouses and designate coverage for selected employees on a tax-advantaged basis."

A second booklet, "Accountant's Guide To Long-Term Care Insurance" provides comprehensive information including Internal Revenue Codes pertaining to various tax deductibility rules and the new 2010 aged-based limits for long-term care insurance tax deductions.

Copies of the 2010 editions of both brochures can be ordered by calling the Association at (818) 597-3227 or by visiting the organization's website:

Monday, November 23, 2009

Long-Term Care Awareness Month Television Appearance

Ron Goldner, Financial Planner with Wealth Strategies Group, Inc. in Memphis, Tennessee capitalized on Long-Term Care Awareness Month by arranging three local television appearances. You can view his appearance on the local Fox-station's newscast.

At the end of the interview, Ron offers copies of the Association's Guide For Women and has already fielded a number of calls. Offering a brochure is a great way to get the station to include your phone number. Way to go Ron.

If you send me examples of media placements you have secured, we'll gladly share them with others.

Posted by Jesse Slome
American Association for Long-Term Care Insurance

Wednesday, November 11, 2009

Free Articles For Your Long-Term Care Blog

If you are reading this blog, chances are you have your own blog. or, at least, you have had more than one fleeting thought about starting one.

For those who have a blog, here is some news I believe will be of value.

For those who do not have a blog - I strongly urge you to start one. It will be a meaningful way to market yourself and your business. More on that at another time (and if you are a member, read the issue of Sales Strategies).

On a monthly basis, I will write and make available an informational blog posting that you can (and should) add to your own blog. Free content of a valuable nature. You will simply copy, personalize and post on your blog. Keep reading.

I just posted the first one. It's available as part of the American Association for Long-Term Care Insurance's Online Learning & Marketing Center. Click here and sign-in. Then go into the Publicity section. It's the most recent post.

First, the simplest way to copy and use the text is to highlight the text and copy it into a new Word document. The Download feature isn't great and I hope to change that in the coming year. So copy and paste.

Second, if you include a live link to the American Association for Long-Term Care Insurance's website as part of your posts, I will reciprocate with a link to your website. Links are important in Google's eyes - so we can help each other. The link must go to: After you post, send me an E-mail with the link to your blog and what website you want us to include in our links. E-mail me at: jslome @

Third (and this is important). Be sure that you personalize your blog. If you have a separate blog from your website, be sure to include a link to your website. Again, this is good for your Google ranking.

I dedicate an hour a day to what's called Social Marketing via the net. I can tell you that the world is going online (not just young people) and Association members will get the tools to make that a bit simpler.

LTC Association Membership Counts For MDRT

To be a member of MDRT (Million Dollar Round Table) one has to belong to at least one qualifying organization.

We are very pleased to advise you that Membership in the American Association for Long-Term Care Insurance qualifies.

And, because AALTCI membership currently costs $49 for a year a number of members have found it possible to join MDRT. If you belong to MDRT, you can certainly indicate you are an AALTCI member to meet their qualification.

If you know or work with other agents or brokers who qualify for MDRT membership but have put off joining because of the expense of belonging to other industry organizations, you have a solution to remove that objection. Of course, there are many other benefits available to members of the nation's only industry trade organization focused exclusively on long-term care insurance.

Please feel free to forward this information to others.

Membership in the American Association for Long-Term Care Insurance is $49 for 1-year. (Please note that dues will increase to $99 in January 2010.)

Here is the link to see all benefits of AALTCI membership:

Here is the link to our online membership application:

Tuesday, November 10, 2009

Health Care Bill Contains Long-Term Care Insurance Option

The passage of H.R. 3962, the Affordable Health Care for America Act, contains provisions to establish a national voluntary long-term care insurance program.

Section 2581 of the nearly 2,000-page bill provides for the establishment of the Community Living Assistance Services and Supports (CLASS) program the purpose of which is to "establish a national voluntary insurance program for purchasing community living assistance services."

The measure aims to provide individuals with functional limitations with tools that will allow them to maintain their personal and financial independence and live in the community. The plan intends to offer insurance to those who are actively employed or those who are members of the uniformed services and is on active duty.

According to data compiled by the American Association for Long-Term Care Insurance, the cost of the government insurance program is expected to be close to $1,500-per-year for an individual; close to $3,000 for a couple with both spouses participating. The organization notes that individuals who are able to health qualify for private insurance will likely still be able to purchase significantly better protection for less money from private insurers. For those unable to health qualify for long-term care insurance, the CLASS plan will be a viable, though expensive option experts note.

The proposed government long-term care insurance plan is designed to commence some time before 2012, though many details including the final cost and benefits will still need to be worked out. Individuals who choose to pay the government-imposed insurance premiums will need to participate by paying insurance premiums for a minimum of five years -- or until 2017 -- in order to first be eligible for benefits.

The Congressional language requires that individuals "shall be automatically enrolled in the CLASS program by an employer" though an opt-out provision will be permitted for those who choose not to have the long-term care insurance premiums deducted from their pay check.

Once the Senate passes its health care reform bill, the House and Senate bills will have to be reconciled into one document and voted on again.