LTCI Partnership Update

With respect to the status of the long term care insurance partnership program, which has been the subject of at least one prior post (see below); in a conversation with those working on this issue in state government, I was able to glean the following information:

• This is a priority of the Speaker of the House, Rep. Kevin Cotter.
• The prior enabling legislation has been deemed incomplete, and it has been determined that additional legislation is required before the sale of partnership policies can occur in Michigan.  New legislation is expected to be introduced this week.
• They are looking at passage in the House as early as September.  The Senate will presumably follow, although the time frame for Senate passage will be at the discretion of the leadership of that body.
• The legislation is permissive in nature, meaning it will not include the “nuts and bolts” of how the program will work.
• Once law is in place, the Department of Health and Human Services and Department of Insurance and Financial Regulation develop policy which will provide the details in terms of how the program actually works.
• There are insurance companies interested in writing such policies in Michigan.