Iowa Code Title XIII. Commerce [Chs. 505-554D] § 514H.1. Definitions

1. “Deficit Reduction Act of 2005” means section 6021(a)(1)(A) of Pub. L. No. 109-171 as it pertains to the expansion of state long-term care insurance partnership programs.

2. “Long-term care facility” means a facility licensed under chapter 135C or an assisted living program certified under chapter 231C.

3. “Long-term care insurance” means long-term care insurance as defined in section 514G.103 and regulated in section 514G.105.

4. “Qualified long-term care insurance policy” means a long-term care insurance contract that is issued by an insurer or other person who complies with section 514H.4.

5. “Qualified long-term care services” means qualified long-term care services as defined in section 7702B(c) of the Internal Revenue Code.  1

6. “Qualified state long-term care insurance partnership” means an approved state plan amendment, according to the Deficit Reduction Act of 2005 that provides for the disregard of any assets or resources in an amount equal to the insurance benefit payments that are made to or on behalf of an individual who is a beneficiary.