The program works in the following way:
The program gives states the ability to let residents coordinate approved private LTC insurance policies with Medicaid nursing home benefits.
The program helps the unlucky consumers who use up private LTC benefits protect some of their assets if they end up needing Medicaid nursing home benefits.
In Idaho, program participants who end up turning to Medicaid will be able to keep assets with a value equal to the partnership LTC policy benefit payments.
The program helps the unlucky consumers who use up private LTC benefits protect some of their assets if they end up needing Medicaid nursing home benefits.
In Idaho, program participants who end up turning to Medicaid will be able to keep assets with a value equal to the partnership LTC policy benefit payments.
Idaho Insurers have already been advised in an Insurance Department bulletin “that they must start including a notice describing the partnership program in all LTC insurance policies sold in the state, including non-partnership program policies.”
I've been to Idaho many times, and never considered it to be very cutting-edge in social issues... but perhaps this information about their take on LTC insurance will have to lead me to view the Famous Potatoes State in a new light! It will be interesting to see where it leads...
Jerry
Posted by: Jerry | June 13, 2008 1:54 PM | Permalink to Comment