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