Content Overview 
- Summary
- "Long Term Care" Defined
- How To Decide Whether To Purchase Long Term Care Insurance
- Effect Of A Pre-Existing Health Condition
- Long Term Care Partnership Policies
- Health Conditions Which Are Most Likely To Require Long Term Care
- How To Purchase A Long Term Care Insurance Policy
- What Happens When You Apply For A Long Term Care Insurance Policy
- What To Do Once You Have A Long Term Health Insurance Policy
- Filing A Claim Under A Long Term Care Insurance Policy
- Qualifying For Medicaid If Your Benefit Runs Out
- Long Term Care Ombudsmen
Long Term Care Insurance 101
Long Term Care Partnership Policies
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Thanks to the Federal Deficit Reduction Act of 2005, states can have a Partnership program to provide asset protection for people who buy Partnership qualified long term care insurance policies.
The program kicks in once jpolicy time limits run out. Historically, once benefits run out, you have to pay remaining costs yourself until just about all your assets are gone so you can qualify for Medicaid long term care benefits. However, under the Partnership Program, you can keep more of your savings and still qualify for Medicaid. The way it works is that your assets are protected up to the total amount of coverage you received from your policy before you exceeded the coverage limits. For example, if your policy limit was $200,000 and all the money was spent, you can keep $200,000 in assets and setill qualify for Medicaid.
To learn whether your state has a Partnership Program, and if so, the Program details, see the web site of The Partnership For Long Term Care by clicking here .