New York State Partnership for Long-Term Care

New York State Partnership for Long-Term Care

What is the Partnership?

The NYS Partnership for Long-Term Care (NYSPLTC) is a unique Department of Health program combining private long-term care insurance and Medicaid Extended Coverage (MEC). Its purpose is to help New Yorkers financially prepare for the possibility of needing nursing home care, home care, or assisted living services someday. The program works by allowing an individual or couple who purchases a Partnership insurance policy and keeps in effect to hold onto all or part of their assets (depending on the type of policy purchased) under the Medicaid program if their long-term care needs extend beyond the period covered by their policy. Partnership policyholders who use the benefits according to the conditions of the program can apply for MEC, which may assist in paying for on-going care long-term care needs. Unlike regular Medicaid, MEC allows you to protect some or all of your assets, depending on whether the policies is qualified as a Dollar for Dollar Asset Protection plan or a Total Asset Protection plan.  However, MEC does require that you contribute your income to the cost of your care according to Medicaid income rules. NYSPLTC helps New Yorkers pay for their long-term care without having to “spend down” their assets, as they would have to do if they relied totally on Medicaid to pay for their long-term care. By allowing New Yorkers to keep what they've worked hard to acquire, and reducing Medicaid costs for the State, NYSPLTC provides a win-win scenario for everyone.

IMPORTANT: As of January 1, 2021, there are no insurance companies currently offering new policy purchases of Partnership qualified products in New York State.  This means that there are no new Partnership policies available for purchase at this time.  This does not affect current, active insureds who are Partnership qualified.  

 

Attention Policyholders:

Long term care insurance premium rate increases are filed with and approved by the New York State Department of Financial Services.  New York State regulations require insurance carriers to support requests for rate increases with actuarial justification.  Insurers have the responsibility of pricing and determining the rates that need to be charged in order to meet future claim obligations.  For rate increase questions, please contact the Consumer Assistance Bureau at the New York State Department of Financial Services at 1-800-342-3736.