In this interesting and very informative video, Fredrick P. Niemann, Esq., a New Jersey Medicaid Attorney explains how and when proceeds from long term care insurance can avoid being subject to income taxation and also how long term care benefit payments may, however, be taxed to the owner of the policy unless certain required pre-conditions are met.
Mr. Niemann also alerts his viewers that long term care policy proceeds paid directly to the insured will be considered available income which can greatly disadvantage a Medicaid application.
A must watch video and page to read for anyone who has long term care insurance and contemplates filing a Medicaid application in the future.
Mr. Niemann invites his readers as well as viewers of this video to contact him at firstname.lastname@example.org or call toll free at 855-376-5291.
By Fredrick P. Niemann, Esq., a NJ Applying For Medicaid Attorney