The Idaho Long-Term Care Partnership Program is a program that involves state government and private insurers. Its purpose is to encourage people to prepare for their future care needs by purchasing insurance that pays when a person must be moved into a long term care facility like a nursing home.
Under the Partnership Program, the state will disregard the policyholder’s personal assets equal to amounts paid out under a qualifying insurance policy when it determines the person’s eligibility for Medicaid assistance. For example, if a qualifying insurance policy pays out $50,000 in benefits to cover a person’s long-term care needs, Medicaid would not count up to $50,000 of the person’s assets when it determines whether the person is eligible for Medicaid assistance with long-term care costs. This means the person would be able to qualify for long-term care assistance through Medicaid without first having to spend all their personal assets on care.
It is important to remember that only certain types of long-term care policies qualify for the Partnership Program and the state and federal laws governing the program are subject to change. If you are considering purchasing long-term care insurance, you should talk with your agent about whether a Partnership Policy is appropriate for your needs.
|Bankers Life & Casualty Company
|Country Life Insurance Company
|Genworth Life Insurance Company
|LifeSecure Insurance Company
|Massachusetts Mutual Life Insurance Company
|Mutual of Omaha Insurance Company
|National Guardian Life Insurance Company
|New York Life Insurance Company
|Northwestern Long-Term Care Insurance Company
|State Farm Mutual Automobile Insurance Company
|Thrivent Financial for Lutherans
The above companies have certified that the listed long term care insurance policies and applicable riders are in compliance with all requirements of the Idaho Long-Term Care Partnership Program. The Department of Insurance has accepted these filings based upon the company certifications. Not all of the above forms have been reviewed by the Department to independently confirm that the policies do in fact meet the requirements of the Idaho Long-Term Care Partnership Program.
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