Florida Long-Term Care Partnership Program

Florida's Long-Term Care (LTC) Partnership Program is designed to encourage FL residents to purchase private long-term care insurance by offering them the option to exempt some or all of their assets from Medicaid spend-down requirements. This will provide Florida residents with the additional benefit of dollar-for-dollar asset protection in the event they utilize their policy benefits and need to seek continued benefits through Medicaid.

Florida's LTC Partnership Program was the second state to adopt and implement a Partnership Program as described in the Deficit Reduction Act of 2005, and currently there are only a few carriers that offer a Florida long-term care insurance partnership policy. LTC insurance policies are eligible for the Partnership Program if the appropriate age required options are chosen:

• Age 18-60: Compound inflation required
• Age 61-75: Some form of inflation is required (simple or compound)
• Age 76+: No inflation required (may be purchased by choice)

For further information on the Florida Long-Term Care Partnership Program, click here.

What is Long-Term Care (LTC)?

Long-term care is when you are no longer able to care for yourself due to suffering from a cognitive impairment such as Alzheimer's Disease, or you need assistance in performing your Activities of Daily Living (ADLs) such as dressing, bathing, eating, toileting, transferring, and continence for an extended period of time. Long-term care services are usually performed in a nursing home, assisted living facility, in your own home, or in a community based setting. Many people believe that long- term care is only for older people, when in fact the needs for long-term care can strike anyone at anytime due to an accident or a debilitating illness.

One of the most common misconceptions is that Medicaid and Medicare will pay for LTC. However, beyond the limited long-term care benefits provided by Medicaid and/or Medicare (assuming that you meet the eligibility requirements for one or both), you are responsible for your long-term care costs, whether you choose to purchase a long-term care insurance policy to cover some or all of the cost, pay for the care out of your pocket with your assets, or rely on a family member to provide your long-term care.

FL Long Term Care Partnership Only

www.floridapartnershiponly.com - Florida LTC Partnership - FL Long Term Care

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