Purchasing a Long Term Care Insurance (LTCI) policy now gives more protection than ever before.  This is a ‘partnership’ between you and the state.

Simply said;

If you purchase a Long Term Care Insurance policy with the correct inflation option;  And your state participates in the National Partnership Program for Long Term Care;  Then every dollar of benefit paid to you can be set aside from a Medicaid spend down. 

You can now protect your assets from a Medicaid spend down by insuring yourself with Long Term Care Insurance policy.  This is a very short and simple explanation, please contact us for details.  

What are the requirements for a policy to be a Partnership policy?

  • Must be a Tax-Qualified Long Term Care Insurance Policy
  • The policy must be approved as a Partnership Policy by the resident State
  • The proper inflation protection must be added at the time of purchase based on the age of the policy holder.
    • Under age 61 – Must Purchase Compound Inflation
    • Age 61 to age 75 – Must Purchase Compound or Simple Inflation
    • Age 76 and older – Inflation is optional (does not need to purchase)

More information from the State of Ohio can be found on the Ohio website.  Partnership for Long Term Care Insurance     This program is available in about 40 states and many have reciprocal agreements.   Just ‘contact us’ to learn more.