Health Insurance
4 months ago
LTC partnership programs — what are they and should I buy a partnership-qualified policy?
21
My state (Connecticut) has a Long-Term Care Partnership Program. From what I understand, if I buy a qualified LTC policy and exhaust it, I can protect additional assets when applying for Medicaid — up to the amount the policy paid out. Is this correct? How much does a partnership-qualified policy cost compared to a standard one? Is this worth pursuing for someone with $500k in assets who's worried about the 'Medicaid spend-down'?
DR
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