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New Long Term Health Care Option for States

Recent legal changes by Congress allow states to offer long-term health care insurance to seniors that allow retirees to hold on to assets while Medicaid helps pay for nursing home care. The new program is modelled on pilot programs in Connecticut and California. 40,000 people have bought these long-term insurance policies since Connecticut's program was instituted in 1992. The new law would help make such plans portable between states.