Why work with a CPA for long-term care insurance planning?

Most LTC insurance representatives have only a sales background. Withbert W. Payne is a Certified Public Accountant (CPA), Chartered Global Management Accountant (CGMA), and Fellow of Chartered Accountants (FCA) — in addition to being a licensed insurance broker. He applies financial analysis, including tax-qualified deduction strategies, C-corporation premium funding, and estate planning integration, to LTC policy design. His career spans Price Waterhouse (London), Blue Cross Blue Shield, CNA Life Insurance Company, and New York Life — with no obligation to any carrier.

What does long-term care insurance cover?

Long-term care insurance pays for care services when you can no longer perform two or more activities of daily living (ADLs) — such as bathing, dressing, eating, toileting, transferring, or continence — or when a licensed healthcare provider certifies a cognitive impairment. Covered care settings typically include your home, adult day care centers, assisted living facilities, memory care units, and skilled nursing facilities (nursing homes).

What is the difference between traditional LTC insurance and a hybrid or asset-based policy?

Traditional (standalone) LTC insurance pays a monthly benefit if care is needed. Premiums not used for care are not returned — they are use-it-or-lose-it. Hybrid or asset-based policies combine a life insurance or annuity chassis with an LTC benefit rider. They typically involve a single premium or fixed-payment period and guarantee a death benefit to beneficiaries if LTC benefits are never used. The right structure depends on your age, health, assets, liquidity, and estate planning goals.

Are long-term care insurance premiums tax deductible?

Yes. Qualified LTC insurance premiums are deductible as a medical expense on IRS Schedule A, subject to annual age-based limits. Business owners who fund premiums through a C-corporation may deduct 100% of premiums as a business expense with no AGI limitation — a significant advantage over personal deductions. Withbert W. Payne can structure your policy to maximize available tax deductions.

How much does long-term care cost in the United States?

The U.S. Department of Health and Human Services estimates that 70% of people turning 65 will need some form of long-term care. National median costs include approximately $9,733 per month for a private room in a nursing home, $5,350 per month for assisted living, and $6,292 per month for home health aide services. California costs typically exceed national medians significantly.

Are consultations and illustrations from LTCCPAs.com free?

Yes. All consultations, policy reviews, and carrier illustrations from Withbert W. Payne are provided at no charge. He is compensated only if you purchase a policy through him — there is never a fee for analysis, illustrations, or advice. You can reach him at (925) 708-6501 or through the contact form at ltccpas.com.

CPA & Independent Analyst · No Carrier Obligations

Independent Long-Term Care Planning
by a Certified Public Accountant

Former Price Waterhouse (London) CPA, Chartered Accountant (England & Wales), and independent insurance analyst with more than 25 years specializing in Life and Long-Term Care planning.

Independent long-term care and life insurance planning for partners at the Big 4, professionals, business owners, executives, and affluent families — analytical, objective, and with no carrier obligations.

Sound planning protects both your assets and the people who depend on you.

Former Price Waterhouse, London · CPA (California) · CGMA · FCA (England & Wales) · Independent Insurance Strategist

No fee. No obligation. I respond within one business day.

Service to Those Who Have Served

Proudly serving veterans and their families as an Appointed HelpVet Advisor (2026–2028) — providing complimentary, independent life and long-term care policy reviews.

For Partners at the Big 4

A Narrow Planning Window — Used Well

Drawing on my years with Price Waterhouse (London) and decades in insurance analysis, I understand the planning realities that partners at the Big 4 face as retirement approaches. Mandatory retirement compresses the planning window into the years when a partner is still earning and at the best health and price.

A high income sustains a high standard of living; private-pay care in California can exceed $20,000 a month per person; and long-term care falls outside Medicare. Even a partner who could self-insure is often committing capital inefficiently to do so.

Planning opportunities are often greatest during the final years before mandatory retirement — while income is high, health is favorable, and underwriting options remain open.

Where an Independent, CPA-Led Plan Does the Most Work

Ahead of mandatory retirement

Long-term care funding structured while you are still earning and insurable.

Asset protection

Shielding significant assets from extended care costs.

Business-owner strategies

C-corporation and business-owner premium structures.

Executive coordination

Aligning coverage with existing executive benefits.

Estate-efficient structuring

Trust-owned and estate-conscious ownership design.

Independent review

Carrier-neutral analysis of coverage already in force.

I began my career in public accounting at Price Waterhouse in London. I bring that same analytical discipline to a partner’s insurance decisions.

Withbert (Bert) W. Payne, CPA, CGMA, FCA

The Cost of Care in the Bay Area

The Arithmetic Behind the Risk

Long-term care in the Bay Area is among the most expensive in the nation. A semi-private nursing-home room now averages about $15,208 a month — $182,000 a year — and a private room runs closer to $20,000 (CareScout, 2025). A dementia diagnosis is what makes the arithmetic serious: care can extend eight to ten years, sometimes longer, which at Bay Area rates represents an exposure of $1.5 million to well over $2 million. Medicare pays nothing toward custodial long-term care.

Planning is most valuable while your options remain open — before a change in health narrows them.

$20,000/mo

Bay Area private room
CareScout, 2025

8–10 yrs

Typical duration of dementia care,
or longer

Beyond Long-Term Care

Life Insurance Optimization

Many existing life insurance policies can be improved through independent review. Opportunities may include:

Increasing guaranteed death benefits
Adding living benefit riders
Reviewing trust-owned policies
Evaluating conversion opportunities
Identifying underperforming policies

Objective, Carrier-Neutral Analysis

How an Independent Review Helps

Strengthened guaranteed benefits through independent policy review
Designed lifetime long-term care solutions for affluent families
Carrier-neutral reviews with no obligation to any insurer
Complimentary consultations, nationwide

“A CPA’s approach made a complicated insurance decision understandable.”

— Client, San Francisco Bay Area

Speak Directly with Bert

Schedule a Conversation with Bert

A complimentary, no-obligation illustration shows your projected premium, monthly long-term care benefit, and guaranteed death benefit across highly rated carriers. I manage every inquiry personally.

(925) 708-6501

[email protected]

LTCCPAs.com

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Independent Long-Term Care Planningby a Certified Public Accountant