Insurance companies voluntarily agree to participate in LTCi partnerships and the following must be met for state and federal requirements:
- Policy must be tax qualified
- Policy must offer inflation protection based on specific age brackets at the time of purchase
Policies that are partnership qualified allow clients to have an added safety net in case they deplete their policy benefits and need to apply for Medicaid. Communicate to your clients that with owning partnership-qualified LTCi policies they will be able to protect a portion of their assets and still qualify them for Medicaid.
For additional information regarding Long Term Care partnership, visit the LTC Connection website. Mutual of Omaha’s partnership overview and training requirements can be found in our Long-Term Care Partnership Overview and Training Requirements on Sales Professional Access (SPA).