Partnership Qualified Long Term Care Insurance and Medicaid
First, you will want to find out whether the long term care insurance policy you are looking to buy is partnership qualified long term care or if it is not partnership qualified at all. Partnership qualified long term care insurance policies are certified by state and the long term care insurance companies are mandated to have a specific level of inflation protection in their long term care coverage. This level is of course set by the state. When you receive Medicaids long term care benefits, any non-partnership long term care insurance policies that you may have can be effected in such a way that you lose assets.
It is important to mention that not everyone is automatically eligible for the long term care benefits that medicaid has to offer. Every single individual that is interested in receiving long term care benefits must first apply and meet all the requirements necessary. In different states long term care provided by Medicaid can vary. Medicaid will not have the same long term care coverage as what you will receive through a partnership qualified long term care insurance company.
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