QUALIFIED LONG TERM CARE INSURANCE

THE FOLLOWING STUDY ARTICLE IS INTENDED TO SUPPORT   AWARENESS . IT IS NOT LEGAL ADVICE.   IF THE READER SEEKS LEGAL ADVICE CONCERNING HIS OR HER PARTICULAR SITUATION, HE OR SHE SHOULD SEEK OUT AN ATTORNEY IN A LAWYER CLIENT RELATIONSHIP.

A Qualified Long Term Care Insurance Contract Does Not Pay Or Reimburse Expenses Incurred For Services Or Items To The Extent That Such Expenses Are Reimbursable Under Medicare Or Would Be So Reimbursable But For The Application Of A Deductible Or Coinsurance Amount.

26 U.S. Code § 7702B – Treatment of qualified long-term care insurance

(b) Qualified long-term care insurance contract

For purposes of this title—

(1) In general

The term “qualified long-term care insurance contract” means any insurance contract if—

(A)  the only insurance protection provided under such contract is coverage of qualified long-term care services,

(B) such contract does not pay or reimburse expenses incurred for services or items to the extent that such expenses are reimbursable under title XVIII of the Social Security Act or would be so reimbursable but for the application of a deductible or coinsurance amount,

(2) Special rules

(B) Special rules relating to medicare

(ii) No provision of law shall be construed or applied so as to prohibit the offering of a qualified long-term care insurance contract on the basis that the contract coordinates its benefits with those provided under such title.


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