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I understand however that there are some states which will allow you to collect Medicaid without being destitute if you had a LTC policy, but its benefits have all been used up.

New York State is one of those states that will allow you to collect medicaid if you purchase your LTC policy from one of the states' 'Preferred Insurers' and exhaust your benefits. You do not need to spend down under those circumstances. My husband and I debated whether to go with the States offer of the Federal governments program. In the end, we went with the Feds offering through John Hancock.

Our intent, besides protecting our modest estate, was to also have more control over our future. Our policy does provide for in-home care. Also, because it is a Federal Program we can get care anywhere in the US.

Pat in NY
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