The New York State Partnership for Long-Term Care (NYSPLTC) program is a collaboration between private insurance companies and New York State Medicaid. This program is designed to encourage New Yorkers to plan for their future long-term care needs, potentially including care in a nursing home, at home, or in assisted living facilities. It uniquely combines the benefits of private long-term care insurance with Medicaid Extended Coverage (MEC), offering a safety net for those who require extended care.
Understanding the NYS Partnership for Long-Term Care
The core concept of the New York State Partnership For Long Term Care Program is asset protection. By purchasing and maintaining a qualified Partnership long-term care insurance policy, individuals and couples can protect a portion or all of their assets. Should their long-term care expenses exceed their policy coverage, they may then be eligible for Medicaid Extended Coverage. This allows policyholders who meet the program’s conditions to apply for MEC to help cover ongoing long-term care costs while preserving their assets.
Important Updates and Information
Rate Increase Notifications
It’s important to be aware that long-term care insurance premiums can increase over time. These rate increases are not arbitrary; they are reviewed and approved by the New York State Department of Financial Services. If you have questions regarding a rate increase notification you have received, you are encouraged to contact the Consumer Assistance Bureau at the New York State Department of Financial Services for assistance at 1-800-342-3736.
Current Policy Availability
Please note that as of January 1, 2021, insurance companies in New York State are not currently offering new Partnership-qualified long term care insurance policies for purchase. This means that new enrollments in the New York State Partnership for Long Term Care program are not available at this time. This change does not impact individuals who already have active Partnership-qualified policies.
Agent Training Resources
For insurance agents seeking information and certification on this program, the New York State Partnership Agent Training Online Course and Certification is available. Further details about this course can be found at NYS Partnership Agent Training.
Access Partnership Resources
Consumer Participation Agreements
Insurer Participation Agreements
Copyright © 1998-2024 New York State Partnership for Long-Term Care. All rights reserved.
