Medicaid: How to Protect Your Family’s Future with a Georgia Long-Term Care Partnership Policy
The Georgia Long-Term Care Partnership is designed to reward Georgians who plan ahead for their future long term care needs. The Long-Term Care Partnership is an innovative partnership between Georgia and private insurers of long term care insurance policies. A qualified Long-Term Care Partnership policy goes above and beyond traditional LTC insurance. Partnership and non-partnership LTC insurance policies are similar. However, the Long-Term Care Partnership policies have the added benefit of allowing policy holders to protect a portion of their assets, such as income and resources, if they choose to apply for Medicaid. The added benefits of a Long-Term Care Partnership policy are asset protection, exemption from Estate Recovery and reciprocity among other Partnership states.
Dollar-for-Dollar Asset Protection
This feature provides dollar-for-dollar asset protection for every dollar that a Long-Term Care Partnership policy pays out in benefits, a dollar of assets can be protected from the LTC Medicaid asset limit.
When determining long-term Medicaid eligibility, any assets up to the amount the Long-Term Care Partnership policy paid in benefit will be disregarded.
The Long-Term Care Partnership insurance policy does not have to be exhausted before asset protection is allowed.
For a full copy of the Georgia Department of Community Health Long-Term Care Partnership brochure, please click the picture above.
Source: Georgia Department of Community Health Georgia Long-Term Care Partnership: Connecting Georgians to Long-Term Care Insurance
For additional information about Georgia long-term care insurance plans, please submit your information:
[contact-form] [contact-field label=”Name” type=”name” required=”true” /] [contact-field label=”Email” type=”email” required=”true” /] [contact-field label=”Phone Number” type=”text” required=”true” /] [contact-field label=”Household” type=”radio” required=”true” options=”Live alone,Married,Domestic partnership,Live with sibling or other relative” /] [/contact-form]
