Bankers Life and Casualty Company is expanding sales of its qualified Long Term Care Partnership policies to 8 states.
Bankers Life, Chicago, a subsidiary of Conseco Inc., Carmel, Ind., says it plans to offer the policies in Colorado, Idaho, Kansas, Minnesota, Nebraska, North and South Dakota, and Virginia by mid-year and expects to add more later.
Partnership policies allow consumers to pay for long term care without having to spend down all of their retirement assets to qualify for Medicaid benefits.
Federally approved partnership plans now are available in 16 states.
Officials at the Centers for Medicare and Medicaid Services have approved 4 others and are considering applications from another 6.