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|Subject: Re: Big Problems wth LongTermCare Insurance||Date: 7/12/2013 9:57 AM|
|Author: Rayvt||Number: 72581 of 75890|
Then the policy you are looking at is not a fully covered partnership policy.
Followed that link and it appears to say something different than what you said.
"A partnership long term care insurance program allows individuals who have purchased an LTCi policy and have exhausted the policy benefits, to protect some of their assets from Medicaid/Medical spend down requirements (i.e., the requirement that Medicaid recipients be legally destitute before receiving benefits)."
It appears to be a plan that must be initiated (and funded?) by the state you live in.
"all states are permitted to provide partnership policies"
And it doesn't actually provide any money for nursing home care. It just lets you go on Medicare while you still have some assets left.
No offense, but you appear to be either confused, uninformed, or disingenuous.
I will re-emphasize .... you do NOT want to go into a Medicare-only nursing home. I've seen both kinds (Medicare-only and private pay). It's like the difference between living in the homeless shelter vs. your own apartment.
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