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Know the Perks of Partnership Long Term Care Plans

April 12, 2012 | Comments: 0 | Views: 128

Deciding which LTC plan type to purchase is really hard especially for those who are not really familiar with such policies. Aside from the benefits and perks that a plan type provides, the public also considers the amount or price of the policy that they will buy. Bearing in mind the unstable economic condition of the country, they prefer buying LTC policies that are not too expensive for their monthly income but still gives almost the same services and facilities like that of other more expensive private insurance plans. And if you are one of those who think like this, then you might want to avail Partnership long term care plans.

This is one of the programs of the government that aim to provide the United States citizens with a more flexible and consumer-friendly LTC policy option. Together with some of the private insurance companies that sell LTC plans in the country, they devise the program according to the financial capacities of the people.

It targets and encourages average income earners to get their own LTC plans while they still have steady monthly income and also to avoid paying for higher and more expensive monthly premiums as the LTC rates continue to increase every year.

Aside from this, by implementing the Partnership program, the government also hopes to lessen the expenses of Medicaid wherein a large portion of its fund is allotted in paying the different LTC needs of its beneficiaries. They are thinking that since Partnership long term care plans are cheaper, more people would be encouraged to buy one to assist them with the LTC facilities that they would need in the future and stop depending on the benefits that the Medicaid could provide them.

But do not ever think that because it is cheaper, it lacks some other perks that LTC plans from private insurance providers usually have. As a matter of fact, it offers two more added features that give more advantage to Partnership policy owners. These features are exclusively given to those who would purchase or are currently Partnership policyholders.

Partnership plans have reciprocity standards that let an insured person to move or transfer to another state without the need of acquiring another LTC Partnership policy. This means that he can still use his Partnership policy benefits given that his new state participates in the reciprocity agreement among all the states that also offer Partnership plans.

The Dollar-for-Dollar asset protection feature, on the other hand, permits an individual to keep a certain share of his assets for every dollar that his partnership plan pays out in term of benefits. The Medicaid will also disregard these assets when obtaining the individual's eligibility to receive Medicaid benefits. This will then give the policy owner a higher chance of being qualified for receiving assistance from Medicaid.

Partnership long term care plans also provide the other mandatory LTC features that all LTC plans must have to be considered valid and authorized to receive benefits. Should this type of LTC plan interests you, do not hesitate your insurance agent now and inquire more about this program. Who knows, this might be the perfect policy type that suits your LTC needs without harassing your budget and other financial income.

Know the various perks of buying long term care plans. Get free long term care quotes from trustworthy providers at CompleteLongTermCare.com.

Source: EzineArticles
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