Colorado governor Bill Ritter is set to announce a new long-term care insurance partnership in two weeks, adding Colorado to a growing list of states that are offering citizens incentives to purchase “LTC” insurance.
Long-term care insurance and specifically the long-term care partnership programs are designed to avert a future catastrophe when the baby boomers become dependent on daily assistance with activities of daily living. One of the carrots being used by the state, if you will, is by relaxing the Medicaid requirements for those who purchase long-term care insurance.
In a news release this morning, KKTV of Colorado had some good pointers for Colorado citizens, including this link to the state Long-term care insurance Web site.
For Colorado citizens, long-term care insurance will soon be a much easier decision to make. Any time a partnership program is introduced, we see an increase in sales from that state, and it only makes sense. When there are good incentives to make a decision that is already a necessary part of planning for retirement, it becomes the biggest no-brainer in the history of the earth.
