The Washington state Long-term Care Partnership (LTCP) Program (hca.wa.gov) provides consumers with another option to help pay for long-term care costs, such as nursing home care, home-based care, etc. It helps you avoid spending down or transferring assets so you qualify for Medicaid when you need help with at least two of the following daily activities:
- Continence (bladder/bowel control)
- Transferring (getting out of a chair, bed or wheelchair)
How it works
Offers you Medicaid asset protection on a dollar-for-dollar basis.
Medicaid asset protection protects most assets you have - up to the amount of benefits paid under the policy.
Example: If the Partnership policy paid $200,000, Medicaid would allow you to keep $200,000 in assets and you’d still qualify for government help to pay for care as long as you meet all other qualifications.
Protects you against inflation. If you're:
- Under age 61 when you buy the policy, it’ll provide annual compounded inflation increases for benefits to cover the cost of your care.
- Between age 61 and 76, the policy will provide simple inflation increases.
- Over age 76, the policy might provide inflation increases.
Protects your assets in other states
- If you buy or exchange a Partnership policy in Washington state, it will help protect your assets in other states too.
- Washington's a participant in the national "reciprocity" agreement with many other states. This agreement allows Washington state Partnership policyholders to move to another "reciprocal" state and receive dollar-for-dollar asset protection. Similarly, Partnership policyholders from other reciprocal states can move to Washington state and remain protected.
- Without a reciprocity agreement, your long-term care policy is portable, but the asset protection features are not.