Banker's Life and Casualty Company
Long Term Care Partnership
111 E Wacker Dr, Ste 2100, Chicago, IL, 60601
Distance: 744 Miles
(888) 910-6993
https://www.bankerslife.com/long-term-care-insurance
Service Details
Description
The Long Term Care Partnership program certifies federally tax-qualified long-term care insurance policies from insurance companies that meet Partnership rules.
People who use the benefits from a Partnership-certified policy are able to protect some assets if they later need to apply for Medical Assistance (Medicaid). This can help them qualify for Medical Assistance sooner. The state will disregard their assets equal to amounts paid out under the certified Partnership policy.
In most cases, the policy must have been issued after July 1, 2006 to qualify as a Partnership policy.
Features
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Specialization
- Older adults
Eligibility
Health screening is done prior to the sale of a policy. This could result in a company refusing to insure an applicant.
Application Instructions
Must complete an insurance application.
Fees
Premiums vary according to company and benefits.
Area Served
Statewide
Websites
Phone Numbers
| Type | Number | Hours |
|---|---|---|
| Toll Free - General infor | (888) 910-6993 |
Last Update
6/1/2023
Other Locations
This provider does not offer this service at other locations.
Other Services or resources
This provider does not offer other services or resources at this location.
Taxonomy Terms Used: Clicking a taxonomy term from the list below launches a new search.
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LH-3000.4500-600Partnership Qualified Long Term Care Insurance Definition
Private insurance companies that issue long term care insurance policies which meet the requirements outlined in the Deficit Reduction Act of 2005 in states approved for implementation of the Long Term Care Partnership program. The Partnership program allows individuals to protect some or all of their assets and still qualify for Medicaid if their long term care needs extend beyond their lifetime maximum, and they meet the state's income and functional eligibility rules. Specific Partnership requirements vary from state to state, but it is anticipated that most states will develop reciprocity once federal guidelines are established.
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LH-3500.4500Long Term Care Insurance Information/Counseling Definition
Programs that offer information and guidance for people who need assistance in determining whether they need long term care insurance, comparing and evaluating benefit plans and selecting a policy that will meet their needs or choosing an alternative to long term care insurance that is more beneficial given their situation.