Long-Term Care Consultants


Long-Term Care Insurance Partnership Plans


Long Term Care Insurance Partnership Program

  Some states have long-term care insurance partnership programs designed to shelter assets from the financial impact of spending down to meet Medicaid eligibility standards.
  Under these partnership programs, when you buy a specially approved insurance policy, you will receive protection against the normal Medicaid requirement to spend down your assets to become eligibile.

For example, let's say your estate is valued at $600,000.

You purchase a partnership qualified Long-Term Care Insurance policy with a $300,000 pool of money.

You need long-term care.

You file a claim with the insurance company, you exhaust the full pool of money ($300,000) but you still need long-term care.

If you apply for Medicaid, you have just sheltered $300,000 of your estate.

In other words, you shelter dollar-for-dollar, of your assets.

For each dollar the insurance company paid for your care, you have sheltered the same amount of your estate.