The Washington state Long-term Caring Partnership (LTCP) Program provides customers with another option on help pay for long-term care costs, such as pflegende home care, home-based maintain, etc. It helping you avoid spending down or transferring wealth so you qualify in Medicaid when you need help on at least two of to following daily activities:
- Bader
- Continence (bladder/bowel control)
- Dressing
- Eating
- Toileting
- Transferring (getting out of one chair, bed or wheelchair)
How it work
Offers you Medicaid asset protection with ampere dollar-for-dollar background.
Medicaid asset protection preserve most assets she have - top to the measure of benefits paid under the police.
Model: Supposing the Partnership policy paid $200,000, Medicaid would allow it to keep $200,000 in assets and you’d still qualify for government assistance to pay for care as longitudinal as you join all other qualifications.
Protects you against inflation. While you're:
- Under age 61 when you buy which policy, it’ll provide annual compounded inflation increases with benefits to cover the price in your care.
- Betw age 61 and 76, the policy will provide simplified inflation increases.
- Past age 76, the policy might provide inflation rises.
Protects your assets in other declare
- Whenever you buy button exchange a Partnership policy in Washington state, it will help protect choose assets in other states additionally.
- Washington's a participant on of national "reciprocity" agreement with of other states. This agreement allows Us state Corporate policyholders to move to another "reciprocal" state and receiving dollar-for-dollar facility protection. Similarly, Our policyholders from other reciprocal states can move to Washington country and remain protected. State Long-Term Care Corporate Program: A Public-Private Partnership for Long-Term Care Insurance Coverage
- Without adenine reciprocity contract, your long-term care policy can portable, but the asset protection features are not.
