Medicaid Annuities & veterans benefits

 Asset Preservation Strategies

Long Term Care Insurance

Long Term Care (LTC) insurance is designed to help protect your assets and preserve your independence and quality of life in the event you require long-term care. If your state has a Partnership Program it will take this concept one step further by offering Medicaid Asset Protection above and beyond the benefit currently available in LTC insurance policies.

What is Medicaid Asset Protection?

Medicaid Asset Protection is a means of protecting a portion of your assets that you would otherwise have to utilize, or “spend down,” in order to determine eligibility for Medicaid benefits that continue to pay for your long-term care. A Partnership-qualified policy enables policyholders to protect one dollar of personal assets for every dollar the policy pays out in benefits. The amount of an individual’s Medicaid Asset Protection is equal to the sum of all benefits paid under the Partnership-qualified policy when he/she seeks to qualify for Medicaid. The total assets you are able to keep as a result of your Partnership-qualified policy are above and beyond all the regular resource allowances under the Medicaid program, including any assets your spouse may be allowed to keep. It’s important to keep in mind that, while a certain portion of your assets may be protected, you are still required to apply your income toward the cost of long-term care in accordance with state Medicaid requirements.

Consider Qualified State Long Term Care if:

  • You can qualify for coverage
  • You can afford the premiums
  • You want to protect a substantial amount of your assets
  • You want asset protection for a fraction of what is actually protected
  • You want to pass assets on

Allow us to illustrate how a Long Term Care Insurance policy can benefit your Plan. Costs, coverage options and how it benefits a Medicaid plan will all be explained via hypothetical illustrations. LTC coverage affords a great opportunity to save. Consider it’s effectiveness while you can still qualify. There is no fee or costs associated for purchasing a LTC policy. 100% of what is funded goes directly toward the insurance and coverage benefits.

You can’t afford to make mistakes. Every day may cost you hundreds of dollars. If a LTC policy is available to you today, waiting for another day may be too late.

You can benefit from our expertise, knowledge, products, resources and compassion. Contact us; you can’t afford not to.