TransCare® III DRA Partnership is Available for Arkansas, Georgia, Minnesota, Nevada and Virginia.
You can begin selling TransCare® III DRA Partnership-qualified policies in Arkansas, Georgia, Minnesota, Nevada and Virginia starting November 9, 2013. Because the Partnership Program offers dollar-for-dollar asset protection, your clients’ assets can be protected from the Medicaid spend-down rules for every dollar of benefits paid from the policy.
If you have clients in these states who currently have TransCare® III policies that qualify for the DRA Partnership program, including inflation protection, they will be contacted on their next anniversary and will be able to request an exchange of their current policy for a Partnership policy. A new Partnership policy will be issued using the original issue age but with a new effective date.
To qualify as a Partnership policy, policies must include at least a minimum Benefit Increase Option (BIO). Remember that the 3% Step Rated Compound BIO meets the inflation minimum at all issue ages in most DRA states and begins with a much lower initial premium. Learn more about the Step-Rated BIO.
Help your clients become even better protected with a DRA Partnership Policy.