Phyllis Shelton

Phyllis Shelton is the President of LTC Consultants, a Nashville-based company that she founded in 1991 specializing in long-term care insurance sales training, consumer education and marketing materials. She is widely considered to be the leading long-term care insurance sales trainer in the country. Now her heart goes out to anyone who doesn't have a local insurance professional to help them consider long-term care insurance, and she is willing to be a resource for those people, or their financial advisors.

Author's posts

Jan 07

What Happened to the New Government Program That Was Supposed to Pay for Long-Term Care?

By Phyllis Shelton

The Community Living Assistance Services and Supports (CLASS) Act was a provision in the 2010 health care reform act (Public Law 111-148) that was supposed to provide an average benefit of $50 a day depending on the level of impairment with a lifetime (unlimited) benefit period. This benefit would grow each year based on Urban …

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Dec 20

Long-Term Care Insurance Tax Deduction for Greater Than 2% Shareholders of S-Corporations

By Phyllis Shelton

For those who have wondered how the long-term care insurance self-employed tax deduction works for owners of S-Corporations, this straightforward explanation clears it up.

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Nov 02

CLASS FINALLY DISMISSED

By Phyllis Shelton

The future of the Community Living Assistance Services and Supports program came into question when its chief actuary resigned and its staff was reassigned in recent weeks (Best’s News Service, Sept. 23, 2011). Also, the Senate Appropriations Committee did not provide the program with any funding in a fiscal year 2012 spending plan advanced Sept. …

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Sep 22

The CLASS Act (YES, You Still Need Long‐Term Care Insurance!!)

By Phyllis Shelton

The Community Living Assistance Services and Supports (CLASS) Act is a provision in Section 8002 of the new health care reform bill (The Patient Protection and Affordable Care Act, Public Law 111‐148) enacted March 23, 2010. The CLASS Act is supposed to provide a small cash benefit of an average of $50 a day with a lifetime benefit period depending on the level of impairment. For example, needing help with four Activities of Daily Living vs. two would result in an increased benefit. This benefit is guaranteed issue and is designed to help people with limitations stay in the community instead of going to a nursing home. The program is supposed to be funded solely by premiums paid by employees who do not opt out via payroll deductions by the employers who choose to participate.

Sep 19

LTCI Tax Incentives for Employer-Sponsored Plans

By Phyllis Shelton

Many employers are deciding it is more cost effective to contribute to the premium for a worksite LTCI plan rather than incurring costs due to caregiver absences and distractions.

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Sep 03

Consumer Protections in Today’s Long-Term Care Insurance Policies

By Phyllis Shelton

There are many protections for consumers in today’s long-term care insurance policies.

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Aug 23

The Impact of Long-Term Care on the Employer

By Phyllis Shelton

Many employers have come to recognize that long-term care insurance can be “productivity insurance.”

2 comments

Jul 16

How to Determine the Value of LTC Insurance After Rate Increases

By Phyllis Shelton

The premium she has paid over 11 years would only pay for a couple of months of daily home care or nursing home care at current costs or four months in an assisted living facility.

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May 29

The Balancing Act

By Phyllis Shelton

Phyllis Shelton was a guest on Lifetime Television’s “The Balancing Act” to talk about how caregiving without the help of long term care insurance can crush the dreams of millions of American women, emotionally and financially.