Genworth Life Insurance Company
Long Term Care Partnership
LTC Insurance Division, PO Box 40005, Lynchburg, VA, 24506-4005
Distance: 27 Miles
A public-private partnership that helps people plan and prepare for their future long-term care needs.
The Minnesota Department of Commerce certifies federally tax-qualified long-term care insurance policies that meet Partnership rules.
If people purchase a certified policy and use the benefits, and then need to apply for Medical Assistance (MA) later, they can protect some or all of their assets (resources). This would allow them to qualify for help sooner and keep more of their money. 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.
For general information about long-term care insurance, visit https://mn.gov/commerce/consumers/your-insurance/long-term-care/introduction.jsp
Client Information and Specialization
- Older adults
Policies are only sold through agents. To locate an agent near you, call (800) 456-7766 and leave your information. Or, locate an agent on the website.
|Toll Free||(888) 436-9678|
|Toll Free - Long Term Care||(800) 456-7766|
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.
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.
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.