If somone has a traditional Long Term Care insurance policy that runs out of years of coverage, or runs out of money to to cover their LTC needs, they would need to begin paying for their long term care from their private funds. If that runs low, they would do a Medicaid spend down so that Medicaid will pay for their LTC needs.
With a Partnership Long Term Care policy, assets (but not income) are protected from the Medicaid spend down. The amount of assets that are protected depend upon the variables and features of the Partnership LTC policy.
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With a Partnership Long Term Care policy, assets (but not income) are protected from the Medicaid spend down. The amount of assets that are protected depend upon the variables and features of the Partnership LTC policy.