What is Long Term Care Insurance?
Helps pay for long term care services that are provided in a nursing home, at home, or in an assisted living facility. It covers services that Medicare, Medigap, and most health and disability insurance plans do not cover.
What is NYS Partnership for Long-Term Care?
It is a program that combines long-term care insurance and Medicaid Extended Coverage. This program can help New Yorkers protect their assets should they need long-term care in the future. An individual or couple who purchase a Partnership insurance policy (and keep it in effect) may retain all or partial assets under the Medicaid program if the long-term care needs extend past the policy term.
How do I pay for Long Term Care Insurance?
Premiums are paid by the policy holders and are based on your age at the time of purchase. The younger you are when you purchase a policy, the less expensive the annual premium.
How do I choose a Long Term Care Insurance plan?
Long term care insurance is an option for people who qualify medically and who can afford the premiums. It isn't suitable for people with few assets, or for those who might have to sacrifice basic needs to pay the high premiums. You may contact a local insurance company that sells Long Term Care Insurance policies for more information or by calling 1-866-950-PLAN or visiting www.dfs.ny.gov/consumer/ltc/ltc_index.htm