A qualified long term care insurance policy is a type of insurance policy that meets certain criteria set by the government. These criteria are designed to ensure that the policy provides coverage for long term care expenses and offers certain consumer protections. In order for a policy to be considered qualified, it must meet the requirements outlined in the Health Insurance Portability and Accountability Act (HIPAA) of 1996. HIPAA defines a qualified long term care insurance policy as one that provides coverage for necessary diagnostic, preventive, therapeutic, curing, treating, mitigating, and rehabilitative services, as well as maintenance or personal care services. Additionally, the policy must also meet certain consumer protection standards, such as offering inflation protection and not imposing pre-existing condition exclusions after a certain period of time. By purchasing a qualified long term care insurance policy, individuals may be eligible for certain tax benefits, such as the ability to deduct a portion of the premiums paid. It's important to note that not all long term care insurance policies are qualified, so it's essential to carefully review the policy terms and conditions before making a purchase.