1030.000.00 Available Resources (OAA and PTD)

1030.055.20 Qualified Long-Term Care Partnership Policy Requirements

IM-148 December 22, 2022

A qualified long-term care policy must meet all the requirements of Section 6021 of the Deficit Reduction Act 2005. The long term-care policy, including a group policy, must meet the following conditions:

  1. The policy must cover a person who was a resident of the qualified partnership state when coverage first became effective. If a policy is exchanged for another, the residency rule applies to the issuance of the original policy.
  2. The policy must meet the definition of a “qualified long-term care insurance policy” that is found in section 7702B(b) of the Internal Revenue Code of 1986.
  3. The policy must meet specific requirements of the National Association of Insurance Commissioners (NAIC) Long-Term Care Insurance Model Regulations and Model Act.
  4. The policy must include inflation protection as follows:
    • For purchasers under 61 years old, compound annual inflation protection;
    • For purchasers 61 to 76 years old, some level of inflation protection; or
    • For purchasers 76 years or older, inflation protection may be offered but is not required.

The Missouri Department of Commerce and Insurance (DCI) will certify which long-term care policies meet these requirements.