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Non-Resident Producers: Oregon has adopted training reciprocity. Refresher Certification Training: Oregon requires a 4-hour course every 24 months. As part of this 8-hour requirement, a special 1-hour course related to the Medical Assistance Program Medicaid is required prior to engaging in any marketing activity of DRA Partnership policies.

Resident Producers: Pennsylvania requires resident producers to take a Pennsylvania 8-hour LTC training course; they may not take an 8-hour Partnership course from another state. Non-Resident Producers: Pennsylvania adopted training reciprocity. Refresher Certification Training: Pennsylvania requires all producers to complete at least a 4-hour course every 24 month licensing cycle. Non-Resident Producers: Rhode Island has adopted training reciprocity. Refresher Certification Training: Rhode Island requires a 4-hour course every 24 months.

Non-Resident Producers: South Carolina has adopted training reciprocity. Refresher Certification Training: South Carolina requires a 4-hour course every 24 months. Non-Resident Producers: South Dakota has adopted partial training reciprocity. If the training is from another state, the producer must take an additional 1 hour of supplemental training which includes South Dakota state Medicaid information. Refresher Certification Training: South Dakota requires a 4-hour course every 24 months.

Tennessee Initial Certification Requirement: Tennessee specific 8 hour training. Non-Resident Producers: Tennessee has adopted training reciprocity. Refresher Certification Training: Tennessee requires 4 hours of additional training every 24 months starting with the renewal period after the 8 hour course was taken. This is every licensing period. This does not apply to the 8 hour initial training requirement. Resident Producers: Texas requires that licensed resident producers take a course that has been approved by the Texas Department of Insurance.

It does not have to be approved as continuing education, but can be. Non-Resident Producers: Texas has adopted training reciprocity for non-resident producers if they are licensed in their home state, the home state is a Partnership state, and the producer takes a comparable course in their home state. If the home state is not a Partnership state, the producer can meet the requirements by taking a qualified 8-hour Texas NAIC Partnership course.

A non-resident will be deemed to satisfy the requirements if they are licensed in their home state and their home state is a Partnership state. If the home state is not a Partnership state, the producer can meet the requirements by taking an 8-hour Texas NAIC Partnership course. Utah Initial Certification Requirement: Initial minimum of 3-hour training course on long-term care and long-term care insurance.

LTC Connection strongly recommends that producers complete an 8-hour course in order to avoid problems with training reciprocity if you currently or in the future go on to sell long-term care insurance in other states. Non-Resident Producers: Utah has adopted training reciprocity. Refresher Certification Training: Utah requires a 3-hour course during each subsequent two-year licensing period. LTC Connection strongly recommends that producers complete a 4 hour course in order to avoid problems with reciprocity if you currently or in the future sell long-term care insurance in other states.

Training must be approved as CE. If a resident producer takes the 8-hour course in another state, they must also take the 2-hour Vermont supplemental course. If a non-resident producer takes the 8-hour course in another state, they must also take the 2-hour Vermont supplemental course. Refresher Certification Training: Vermont requires a 4-hour course every 24 months.

If a course is taken from another state, the producer must also take a 2 hour VA Partnership course. Refresher Certification Training: Virginia requires a 4-hour course every 24 months. Effective October 24th, - Virginia resident agents who fail to complete the ongoing 4 hours of training within 24 months to the DAY must again complete the eight hours of initial training.

Non-Resident Producers: Washington has adopted training reciprocity. Refresher Certification Training: Washington requires a 4-hour course every 24 months. Non-Resident Producers: West Virginia has adopted training reciprocity. Refresher Certification Training: West Virginia requires a 4-hour course every 24 months each biennial CE renewal cycle thereafter. Resident Producers: Wisconsin requires that resident producers take 6-hours of LTC insurance training and 2 hours of WI Medicaid training approved by the state of Wisconsin.

Non-Resident Producers: Wisconsin has adopted partial training reciprocity. Refresher Certification Training: Updated July, Wisconsin now requires a 4-hour course be completed within each license cycle instead of 24 months from the date of the initial training completion. Non-Resident Producers: Wyoming has adopted training reciprocity.

Refresher Certification Training: Wyoming requires a 4-hour course every 24 months. Alabama has adopted training reciprocity. Alabama requires a 4-hour course every 24 months each biennial renewal cycle thereafter. Alaska has adopted training reciprocity. Alaska requires a 4-hour course every 24 months. Arizona has adopted training reciprocity.

A 4-hour follow-up course must be completed every 24 months. Arkansas has adopted training reciprocity. Arkansas requires a 4-hour course every 24 months. Initial hour training course consisting of 8-hours of general LTC training can be taken in a classroom or online ; and 8-hours of training specific to LTC Partnership classroom only.

Colorado requires resident producers take both of the 8 hour courses mentioned above. Please check with your carrier to determine if an 8 hour NAIC Partnership course from another state will suffice for the two 8 hour courses mentioned above.

Colorado requires a 5-hour course every 24 months that must be taken in a classroom setting. Non-Residents: Please check with your carrier to determine if they will require the 5 hour class from Colorado or will accept your 4 hour training from another state. No renewal training is required. This training is required every 3 years. Florida requires a 4-hour course every 24 months. Georgia has adopted partial training reciprocity. An agent must complete ongoing training consisting of a four 4 hour continuing education course every 24 months.

Idaho has adopted training reciprocity. Idaho requires a 4-hour course every 24 months. Illinois has adopted training reciprocity for non-resident producers. Illinois requires a 4-hour course be completed every renewal cycle. LTC - The basic 8 hour and 5 hour renewal requirements are waived for producers holding an IN non-resident license if Indiana has licensing reciprocity with that state. After completing the initial 8 hour course, complete a minimum of 5 hours one 5 hour course or combination of 5 hours of continuing education in LTC every 2 years of the renewal period.

Iowa has adopted training reciprocity for non-resident producers only. Initial 4-hour training course. Kansas has indicated that they have adopted training reciprocity. Refresher is required by the end of each renewal cycle. Kentucky has adopted training reciprocity. Producers must complete ongoing training of at least 4 hours in length during each CE biennium following the period in which initial training was completed.

Louisiana has adopted training reciprocity. Louisiana requires the completion of a 4-hour course by the end of each renewal period. Maine requires a 4-hour course every 24 months. Maryland requires a 4-hour course every 24 months. Massachusetts has adopted partial training reciprocity. Michigan has adopted training reciprocity. Michigan requires a 4-hour course by the end of each subsequent continuing education compliance period.

Updated on July 14, Minnesota has adopted training reciprocity and allows non-resident producers to take an 8-hour NAIC long term care course from another state, in addition to taking a course in Minnesota that teaches the unique aspects of Minnesota Medicaid Assistance.

Minnesota requires a 4-hour course every 24 months. Updated July, Missouri now requires a 4-hour course be completed within each license cycle instead of 24 months from the date of the initial training completion. Montana has adopted training reciprocity. Montana requires a 4-hour course every 24 months.

Nebraska has adopted training reciprocity. Nebraska requires a 4-hour course every 24 months. Nevada has adopted training reciprocity. Nevada requires a 4-hour course every 24 months. New Hampshire has adopted training reciprocity. New Hampshire requires a 4-hour refresher course every 24 months. New Jersey has adopted training reciprocity. New Jersey requires a 4-hour course every 24 months. A New Mexico resident agent may complete the training requirements in any state provided the Office of Superintendent has approved the course for long term care credit prior to the agent taking the course.

New Mexico has adopted training reciprocity. New Mexico requires a 4-hour course every 24 months. North Carolina has adopted training reciprocity. North Carolina requires a 4-hour course every biennial compliance period thereafter. Special License required: Special License required. North Dakota has adopted training reciprocity. North Dakota requires a 4-hour course every 24 months. Ohio has adopted training reciprocity.

Ohio requires a 4-hour course that has been assigned an LTC4 category every 24 month CE cycle thereafter. Oklahoma has adopted training reciprocity. Oklahoma requires a 4-hour course every biennial renewal period. Oregon has adopted training reciprocity. Oregon requires a 4-hour course every 24 months. Initial 8-hour LTC training course. Pennsylvania requires resident producers to take a Pennsylvania 8-hour LTC training course; they may not take an 8-hour Partnership course from another state.

Pennsylvania adopted training reciprocity. Pennsylvania requires all producers to complete at least a 4-hour course every 24 month licensing cycle. Rhode Island has adopted training reciprocity. Rhode Island requires a 4-hour course every 24 months.

South Carolina has adopted training reciprocity. With the life expectancy continuing to grow, those statistics will grow stronger. Currently, more than 70 percent of people over the age of 65 will need long-term care in their lifetime. Who would take care of you? How would you pay for long-term care? While the numbers say you should prepare for long-term care, how you will pay for it is becoming complex.

Medicare, Medicaid , health or disability insurance, long-term care insurance, reverse mortgages, and life insurance are just some of the possible sources. Understanding this frustration, Congress has passed laws that provide incentives for taxpayers to purchase LTC coverage but in a manner different from traditional, stand-alone, health-based LTCI. In , with the:. Attorneys, accountants, and financial advisors who work with the elderly often encounter clients who are concerned and confused about LTC.

A complete exploration of assets and a thorough knowledge of the options available is required if the advisor is to provide competent advice. The below chart is an example of how an annuity with a long-term care benefit works. This annuity is very simple to understand. You take your account value and divide it by 24 to get your monthly LTC Benefit.

Your money pays for the first 2 years of benefit and once your annuity account value reaches zero — the COB Rider kicks in to pay the same monthly benefit for another 36 months. I think of it as paying an interest rate commensurate with a short-term certificate of deposit. The only reason to purchase this annuity is to leverage your asset two and a half times for LTC and favorable tax treatment.

If your goal is more geared towards accumulation you can view and compare current fixed annuity rates at our online fixed annuity store. At the time this article was written, there were 14 carriers that market some form of either asset-based life insurance LTC benefits, asset-based annuity LTC benefits, or both 8 , and several more carriers are planning to enter the market.

While specifics of the various policies may differ, the general methodology for most of them is based on the same concepts described above. In a nation with an aging population and a volatile economy, and where end-of-life care and the cost of that care is an ever-increasing concern, understanding the role that asset-based LTC products can play in retirement income planning should be the cost of admission for a financial advisor.

A complete exploration of assets and a thorough knowledge of the options available are required if the advisor is to provide competent advice. Skip to content. What is Long Term Care Insurance? Department of Health and Human Services 1 : More than half of those 65 today will need some type of long-term care services and support.

Women generally need care for longer periods than men. Long Term Care Qualifying Expenses Aging, accidents, illnesses, and chronic conditions may limit your ability to care for yourself. Activities of Daily Living Bathing Continence Dressing Eating Toileting Transferring moving in and out of bed There are other everyday tasks that you may need assistance with , including: Housework Managing money Taking medication Preparing and cleaning up after meals Shopping for groceries or clothes Using the telephone or other communication devices Caring for pets Responding to emergency alerts such as fire alarms Asset Based Long Term Care Helps Mitigate Longevity Risk Retirement income planning involves three important unknown factors:.

The chaos in the traditional health-based long term care insurance led many middle-income retirees to throw up their hands in frustration and decide to simply take their chances on not needing assistance in old age. Until that time, the tax status of benefits paid under LTC policies was uncertain.

HIPAA provides that, if the policy meets certain triggering events for payment of benefits, then the benefits paid will be received free of income tax. Long Term Care Annuity A long term care annuity is an annuity with a qualified long-term care rider attached. IRC Sec. However, if you commonly called transfer your existing annuity to an Annuity with LTC Benefits; your gains will come out income tax-free if used to cover qualified LTC expenses.

This is one of the very few examples when the IRS allows you to go from tax-deferred to tax-free. If you pass the annuity on to your beneficiaries or withdraw your funds for any other purpose, gains will be taxed just like they would on a traditional non-qualified deferred annuity. Long Term Care Annuity Example.

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