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New York Long-Term Care: What you need to know

Employers have no obligation under New York law to offer long-term care insurance to their employees. However, if long-term care insurance is among the benefits offered, certain state law requirements limit how the plan may be designed.
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Preexisting condition limitations in long-term care insurance policies may not exclude coverage for more than six months after the effective date of coverage under the policy and may apply only to a condition for which medical advice was given or treatment was recommended by or received from a licensed healthcare provider within six months before the effective date of coverage (11 NYCRR Sec. 52.25).
Generally, group long-term care insurance policies in New York must provide individuals whose coverage is terminated with the opportunity to elect conversion coverage or continued group coverage (11 NYCRR Sec. 52.25).
The New York State Partnership for Long-Term Care (Partnership) is intended to encourage more people to purchase long-term care insurance policies. The Partnership allows individuals to protect some or all of their assets (depending on the insurance plan they buy) if their long-term care needs extend beyond the period covered by their private insurance policy. For more information on the Partnership, visit http://www.nyspltc.org/index.htm.
New York law provides for a credit against New York State's income tax equal to 20 percent of the premium paid for long-term care insurance (NY Tax Law Sec. 606(aa)).
For additional information, visit the New York State Department of Financial Services's website at http://www.dfs.ny.gov/insurance.
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New York Long-Term Care Resources

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Policies Elder Care Policy (Standard)

Long-Term Care Products

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