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NEW YORK • NEW JERSEY • CONNECTICUT • VIRGINIA
Ask About the New York Partnership Program!
The New York State Partnership for Long Term Care is a program that combines private LTC Insurance and "Medicaid Extended Coverage." New York is the only state in the union that will provide you with FULL ASSET PROTECTION should you need Medicaid assitance if your private Long Term Care plan's benefits become depleted. There need not be assignment of assets away from the patient to protect them from Medicaid! in . New York State residents who own a partnershp approved LTC Insurance policy still remain eligible for Medicaid if their care exceeds the period covered by their private LTC Insurance policy.
Example: Plan "A" is a Long Term Care insurance plan that provides coverage for 4 years of all aspects of Long Term Care. However when plan "A" runs out the only realistic choice is to "go on Medicaid" which means your assets can be eventually taken by the state. With the New York State Partnership plan you get a traditional Long Term Care plan of 4 years of private coverage. However if this plan runs out you can go on Medicaid with FULL ASSET PROTECTION.
Additionally you will be eligable for Medicaid in 4 years, one year less than the "5 year look-back." Without the Partnership plan you would have to assign your assets outside of your ownership and wait 5 years to be eligible for Medicaid.
New York State Official "Partnership" Web Site
http://www.nyspltc.org