Long term care insurance helps pay for the care needed when you are unable to do everyday activities – such as eating, getting dressed, bathing, maintaining continence, and getting in and out of bed – without assistance.
The NYS Partnership for Long Term Care combines long term care insurance and Medicaid Extended Coverage. Its purpose is to help New Yorkers financially prepare for the possibility of needing nursing home care, home care, or assisted living services someday. The program allows individuals to protect some or all of their assets (resources), depending on the insurance plan purchased, if their long term care needs extend beyond the period covered by their private insurance policy.
If you buy NYS Partnership for Long Term Care insurance from a participating insurer, use the benefits according to the conditions of the program, and you are a New York State resident, you can apply for New York State Medicaid Extended Coverage, which may assist in paying for your ongoing care. Unlike regular Medicaid, Medicaid Extended Coverage allows you to protect some or all of your assets, depending on whether you select a Dollar for Dollar Asset Protection plan or a Total Asset Protection plan. However, your income is countable in determining your eligibility for Medicaid Extended Coverage.
Vice President & Director
Executive Benefits Solutions
Main: 716.853.3820 x7335