Long Term Care problems Solved
Ask the expert, Dennis H. Lentin

I keep hearing about tax qualified and non tax qualified plans, what is the difference?

In a tax qualified plan you must need to show that you need substantial assistance in performing two or more of the activities of daily living for at least a ninety day period, or you must show a cognitive impairment before you can collect benefits.

In a non-tax qualified plan you do not have to show that they help will be needed for any length of time and in the better plans medical necessity is the trigger. There may be some tax ramifications, but a good agent can show you how they do or do not apply to you.

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Dennis H. Lentin
DL Financial Consultants
3852 Black Forest Circle,
Boynton Beach, Florida 33436