New York Life
Long Term Care Partnership
51 Madison Ave, New York, NY, 10010-1655
Distance: 73 Miles
This program, run by the Minnesota Department of Commerce, certifies federally tax-qualified long-term care insurance policies from insurance companies that meet Partnership rules.
People who use the benefits from a Partnership-certified policy are able to protect some assets if at some point in the future they need to apply for Medical Assistance (Medicaid). This can help them qualify for Medical Assistance sooner. 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.
- Older adults
Underwriting (health screening) is done prior to the sale of a policy which could result in a company refusing to insure an applicant
Must complete insurance application
The Twin Cities office can be reached at (952) 897-5000. Offices can be found state-wide using their online office locator tool.
Premiums vary according to company and benefits
9:00am - 7:00pm, Monday - Friday (Eastern Time)
State of Minnesota
|Toll Free||(800) 225-5695|
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.