How partnership long term care insurance help Americans with their LTC needs
With the basic commodities’ prices continue to soar and the economy still unstable up to this day, the government decided to develop and create an LTC program that will cater to the financial capacities of the majority of the United States residents. Together with the cooperation and help of some private insurance providers, the partnership long term care insurance program was made available to the public with hopes that it will boost the awareness of the citizens regarding LTC plans.
Unlike the private LTC insurance policies that insurance companies offer, partnership plans are more affordable and have cheaper rates and monthly premiums. This is one option that the government has done to help encourage the residents to avail a policy for their LTC needs in the coming years, and also to promote the importance and benefits that these insurance plans provide.
One of the main perks that LTC policies provide are the medical services and facilities that the policy owners might need while receiving their policy benefits. Some of these include the confinement and stay in a nursing home or adult day care facility, assistance with their therapy and rehabilitation, use of other medical facilities or equipments that their health condition requires, and medical treatment from licensed health practitioners such as doctors, nurses, and caregivers.
The partnership long term care insurance policies offer almost the same services and benefits that private LTC insurance plans provide and they also give and offer health experts’ services and assistance. Their main responsibility is to make sure that the policy owners get the best and highest quality of medical services. They assist them with their basic daily activities like taking a bath, eating, walking, and taking their medicines properly that they might find difficult to perform due to illnesses, diseases, or simply because of old age.
The LTC partnership plans also offer additional benefits that are only exclusive and built-in when you avail it. These additional benefits give the policy owner more advantage and more possibilities of getting better deals in the future. Two unique features that it offers are the reciprocity standards and the Dollar-for-Dollar asset protection feature.
The reciprocity standards of a partnership plan allow the insurance owner to transfer from one state to another without having the need to purchase another or a new partnership plan, as long as he moves to a state that also offers partnership policies and participates in the reciprocity agreement among the involved states.
On the other hand, the Dollar-for-Dollar asset protection feature lets the insured person to keep a dollar of his assets for every dollar that his partnership policy pays out in benefits. These assets will be then disregarded by Medicaid should he apply for eligibility and benefits. But owning a partnership plan does not assure an individual of automatic Medicaid qualification. He must still meet the standards and other requirement set by Medicaid.
The partnership long term care insurance program proves to be one effective way of helping the people avail an LTC insurance plan for their LTC needs in the future. Through this program, more Americans now have the chance to experience and live a more relaxed and trouble-free life after their retirement years.
Find out how what makes partnership long term care beneficial to Americans plus take advantage of our free long term care insurance quotes when you visit our website now. The best way to secure your future is by getting long term care quotes as early as possible.
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