LTC Evolves
While the world of long term care insurance has evolved a great deal in the past eighteen months, the most monumental change occurred on January 1, 1997 when the Kennedy-Kassenbaum bill of 1996, HR 3103, enacted HIPAA (Health Insurance Portability and Accountability Act). HIPAA granted Tax Qualified LTC with standardized Activities of Daily Living (ADL) eligibility criteria. This made it much easier for consumers to understand how Long Term Care (LTC) insurance policies pay benefits. Previously, SB 194 passed in 1993 which stated that Comprehensive LTC policies must include specific
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