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Partnership Policies

As a rule, in order to be eligible for long term care benefits under Medicaid, you must “spend down”—i.e., exhaust—your assets first. But about 40 states now offer Partnership Plans that reward residents who purchase Long Term Care Insurance by easing Medicaid eligibility requirements. The benefit to consumers: you can qualify for Medicaid while holding onto more of your assets.

In essence, Partnership Plans are a public/private alliance between state governments and insurance carriers. The rules vary by state, but the basic concept is a dollar-for-dollar exchange of benefits and exempt assets. In other words, if your LTCI policy pays $200,000 in total benefits, you can shelter $200,000 from Medicaid beyond what your state law allows.

We have experience with Partnership Plans and are certified in states that offer them. If you are interested in learning more, please contact us.


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