Health Insurance California >> Long Term Care >> California Partnership for Long Term Care

The California Partnership for Long-Term Care (the Partnership)

The California partnership for long term is a plan of the California Department of Health Services (DHS), is an very pioneering partnership among consumers, the State of California and six private insurance companies, with California Public Employees Retirement System (CALPERS). These insurers offer a particular type of long-term insurance policy, commonly known as “Partnership” policies, which must meet certain requirements set by the DHS. Insurance companies participating in the Partnership Long term plan should have their Partnership insurance policies approved by both the Department of Insurance and as well the DHS. Additionally, only agents who have got special training are able to sell you a Partnership Long term insurance policy and to counsel you as to whether the Partnership program works for you or not. Be sure to confirm that your agent has this special certification to sell Partnership Long term insurance policies.

Each Partnership-approved Long term policy consists of high quality insurance benefits to cover the health care you may need and automatic inflation protection to ensure that the benefits keep range with the rising cost of care. Partnership Long term insurance policies also include a unique “state guaranteed asset” protection feature that protects you against impoverishment due to the costs of long-term care, even if you have used all the benefits of your policy.

The unique Medi-Cal asset protection feature of a Partnership-approved Long term insurance policy allows you to keep a dollar of assets for every dollar your Long term policy pays out of benefits. If you still require long-term care after you use up your insurance policy benefits, you could apply to Medi-Cal. Medi-Cal would allow you to keep assets, above what Medi-Cal normally allows, equal to the amount of benefits the Partnership Long term insurance policy paid out for your care. This protected amount of assets would not be counted in your application for Medi- Cal benefits.

These assets are protected as part of your own estate so your loved ones would also receive them. Only a Partnership-approved Long term insurance policy could provide you with both the benefits you might need and a guaranteed lifetime asset protection so you that would not be forced to spend everything you have worked for on long-term care. Partnership Long term insurance policies also have other important features that are not required in other long-term insurance policies.

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