North Carolina Long Term Care Partnership Program
Basically, the program will allow for a "resource disregard" for the insured only of a qualified LTCP policy. A resource disregard refers to the assets needed to qualify for Medicaid. This program will allow the insured to keep assets equivalent to the amount of benefits paid out by LTCP policy and still qualify for Medicaid assistance. There is also a resource disregard at estate recovery, meaning that there is allowance for assets to be passed at insured's death as well. This is a major step in protecting assets and life savings from being depleted due to a LTC event. In our opinion, this makes a LTC policy as necessary as home owner's insurance! Please contact us for more details.