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GEORGIA

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 LTC needs.  The Long-Term Care Partnership is an innovative partnership between Georgia and private insurers of LTC 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 further assistance, please contact
Scott A. Olson at 877-727-9582
or email Scott at Scott@LTCShop.com

 

Georgia License #:  634205

 

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