Long-term care partnership program
Certified Financial Planner glossary · Certified Financial Planner
Definition
State programs that link private LTC insurance to Medicaid asset protection dollar-for-dollar when policy requirements are met.
Long-term care partnership program in plain English
A client buys private long-term care coverage hoping Medicaid later will ignore some assets if benefits are used. Long-term care partnership programs link private LTC insurance to Medicaid asset protection dollar-for-dollar when policy and state requirements are met. Partnership eligibility is state-specific, so a national product pitch without checking the client's state is an ignored constraint. Confirm the state program rules before promising asset protection.
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