No offense, but you appear to be either confused, uninformed, or disingenuous.Really? No offense?No offense (I am being sarcastic) your reading comprehension is lacking. I quoted you the specific text that states otherwise. Don't blame me if you don't take time to read it.You should instead simply thank me for the clarification, as I did you.I have stated repeatedly that you should look more into what your state provides. Hell, tell me your state and I will even do it for you.Here is it for Indiana:http://www.in.gov/iltcp/files/What_You_Should_Know_About_Lon...How does the Medicaid Asset Protection feature work?If you initially purchase a Partnership policy with less than the State-set dollaramount* in benefits, one dollar of assets (dollar-for-dollar) is protected foreach dollar of Partnership policy benefits paid out. If you initially purchasea Partnership policy with at least the State-set dollar amount* and have a 5%compound inflation factor, all of your assets (total asset) are protected oncethe policy has paid out all benefits.Can I rely on this asset protection from Medicaid to protect myassets?In a word, YES! For example, if you bought a Partnership policy with amaximum benefit pay-out of $150,800, you could protect $150,800 of yourassets. If you want to protect more or less of your assets, you may select apolicy with a higher or lower benefit pay-out. If you want to protect allof your assets, you would need to purchase, at a minimum, the State-setdollar amount of Partnership policy benefits. For married couples, eachspouse would need to purchase his/her own policy for the greatest overallprotection.---------------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.I think you mean Medicaid, but yes, that is correct. Some or all.
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