Long Term Care Funding Options

Chris Hagerstrom, Marketing Vice President


Jack Schroeder and Associates

JSA is a nationally recognized leader in the wholesale distribution of Medicare plans, however our roots run deep with long term care insurance. Beginning with leadership in our home state of WI and the release of CNA’s Convalescent Care plan in 1984. JSA embraced the important market changes in the late 90’s coinciding with the intro of Tax Qualified LTCi plans, and the Corp/employer market. Today we offer all of the most popular plans including the ever evolving and improving life insurance based LTCi plans. With over 30 years of commitment, we help independent agents succeed in this market.

Long Term Care Funding Options

Traditional LTCi

  • Designed to pay a daily/monthly benefit for home health care, adult day care, assisted living, alternative care or nursing home care
  • Heavily underwritten – not everyone is accepted
  • May be viewed by clients as expensive – ask JSA Marketing about funding strategies
  • Best plan to pay for comprehensive LTC services


Asset-based LTCi

  • Typically designed on a life insurance chassis
  • Pays a percentage of death benefit each month for LTC services when triggered
  • LTC benefits use up death benefit, otherwise client’s heirs receive the death benefit
  • Lifetime LTCi benefits available
  • Good option for clients who object to paying premiums for possible LTC that may never be needed


Annuity Care  

  • Option for those planning to pay for LTC out of pocket their own pocket
  • When LTC is needed, client receives funds to pay for LTC services for up to 5 years
  • Some weight and diabetes issues accepted that traditional LTCi rejects
  • Good option for wealthy clients intending to self insure but desire to increase the value of their money if LTC services needed


Short Term Care

  • Affordable option for up to a 360 day (max) benefit
  • Will accept some declines
  • Payments end on the 360th day, even if benefits are not claimed for each of the 360 days
  • Typically pays 100% of the NH benefit purchased, assisted living at 75% of NH benefit selected
  • Home care is typically an add-on rider
  • Good for clients that may not qualify for LTC or want minimal coverage in the event LTC is needed


Immediate Care Annuity

  • Medically underwritten immediate annuity
  • An underwritten annuity can maximize client’s income for LTC services
  • Best for individuals ages 75 plus currently receiving LTC services


Irrevocable Burial Trust

  • Designed for clients spending down to qualify for Medicaid, with up $15K in an irrevocable trust

Chris Hagerstrom, Marketing Vice President

Chris Hagerstrom is the Marketing Vice President at Jack Schroeder and Associates, LLC. Through years of experience he has become an expert with Medicare, Life Insurance, Annuities and Supplemental Health and how to successfully navigate the senior market.