Effective January 1, 2013, the minimum benefit levels for Partnership products issued increased in some states. All Partnership policies must meet or exceed the minimums below.
Please be aware that the annual allowable minimums also pertain to existing policyholders who wish to reduce their daily or monthly benefits. In this case, the daily or monthly benefit cannot be reduced below the Partnership annual allowable minimum benefit level. The Partnership offices monitor the cases issued in the first quarter of each year for policies issued near the minimum levels. The Partnership offices will require policies not meeting the minimums to be reissued to meet these requirements.
CA Partnership The minimum nursing facility daily benefit allowed will be $170 in 2013 (down from $180 in 2012). The minimum residential care (assisted living) daily benefit in 2013 will be $119 (no less than 70% of the nursing facility daily benefit).
CT Partnership The minimum daily benefit levels allowable will increase to $224 for nursing home care and $112 for home and community-based services. The minimum monthly benefit amount in 2013 will be: $6,944 (31 x $224).
IN Partnership The NHDB will remain at $115 for 2013. (The monthly benefit equivalent is $3,565.) The Dollar Amount for Total Asset Protection will increase from $277,190 in 2012 to $291,050 in 2013. Anything less will provide Dollar-for-Dollar Medicaid Asset Protection.
NY Partnership The minimum daily benefit levels allowable will increase to $265 for nursing home care and $133 for home and community-based services.