Wednesday July 23rd 2014

Long-Term Care Alert: As Government Support Shrinks, San Francisco-Based LTC Leader Says “We’re Here to Help You”


Todd Stein
LTC Partners & Insurance Services


San Francisco, CA November 25, 2011 – Today one of the nation’s largest long-term care insurance agencies, with offices in San Francisco, announces a local effort to help people in this area with their long-term care financing needs. The company is LTC Partners & Insurance Services, which represents multiple insurance carriers, and the local effort is part of a larger national campaign.

This development comes on the heels of the recent announcement that the Administration was abandoning plans to implement the CLASS Act. CLASS, standing for “Community Living Assistance Services and Supports,” was the public option for long-term care insurance, the part of health reform championed by the late Ted Kennedy.

“We respect Senator Kennedy’s deep concern about this issue,” says Todd Stein, San Francisco-based Partner with the company, “and we’re honoring that by mobilizing private-sector resources to achieve the key objectives of CLASS.”

The issue, a monumental lack of preparation for long-term care, was recently called “a perfect storm in a terrible way” by Elizabeth Cohen, Senior Medical Correspondent for CNN (

To address the issue, LTC Partners & Insurance Services is making available over 500 state-certified agents, in all parts of the country, to advise people on their multiple private-sector options. Stein is leading the effort locally.

The private-sector options include -
• Affordable long-term care insurance, and
• Federally-backed reverse mortgages that can help people who may not qualify for LTC insurance.

In addition, “to cover what CLASS was intended to cover in the workplace, we have launched our Worksite Academy,” says Stein. “It supports employers in this area, as well as nationally, with long-term care education and access to affordable LTC plans for their employees.”

The decision not to implement the CLASS Act, deemed to be fiscally unsustainable, is just one indication that “people are on their own when it comes to long-term care,” says Stein. “The Government just doesn’t have the resources or the expertise to provide it.”

Abandoning the CLASS Act isn’t the only way the Government has telegraphed that it’s not picking up the LTC tab, according to Stein. “The Department of Health and Human Services has been emphasizing right along that Medicare does NOT cover most long-term care expenses. Repeat, Medicare is NOT a solution for LTC; it wasn’t designed to be. Secretary Sebelius reiterated that point last week in her public statement.”

In addition, the Government tries to communicate that for most Americans, Medicaid isn’t a long-term care solution either, Stein points out. “Unless you’re impoverished, you don’t qualify.”

“The Government has made it abundantly clear that it’s NOT there for you when it comes to long-term care,” Stein says, “but we are.”

However, “the Government DOES want you to be protected, so it offers financial incentives for protecting yourself.”

These incentives include –
• Tax deductions for long term care insurance premiums,
• Medicaid asset protection in case you exhaust your insurance benefits — in states participating in the LTC Partnership program, and
• Federal guarantees for reverse mortgages.

Stein, who covers the local area, is prepared to discuss these incentives as well as long-term care financing options. More information is available from Stein at 415-861-5088, or

Stein is a leading long term care insurance agent in CA, and LTC Partners & Insurance Services is one of America’s most experienced long-term care insurance agencies. The company is a co-founder and sponsor of the “3 in 4 Need More” campaign, which seeks to multiply the number of Americans protected by long-term care planning. The company offers two free long-term care guidebooks, one for consumers, the other for worksites. They are available from Stein.

In California the company is known at LTC Partners & Insurance Services; in other states, as LTC Financial Partners.

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