New York Partnership Plans

The New York State Partnership for Long-Term Care program is designed to assist the residents of New York in planning for the cost of long-term care. The goal of the Partnership is financial independence for consumers through shared responsibility. New York State will help you in planning for and paying for long-term care expenses. The State will do its share by protecting you against the high cost of long-term care through their Extended Medicaid program.

Here's How it Works.

Once you satisfy the duration requirements of your program, you then qualify for the special Medicaid Extended Coverage. You do not have to "spend-down" all or even a part of your assets to qualify for long-term care services, so your assets are 100% protected. Also, there is no "estate recovery provision" as there is with other Medicaid Planning Strategies. Your family is protected because they will be able to maintain their relationship with you without having to provide your care. They can supervise your care because the cost will be covered by New York State for as long as you need it.

The Partnership plans are special Long Term Care Insurance policies that don't run out if you exhaust your benefits. Instead of spending 60% more on a Lifetime Policy, you can purchase the minimum 3 year plan to protect 100% of your assets and the Extended Medicaid plan will pay your Nursing Home Bill. It is simply a shared responsibility.

Take 30 seconds more and Compare the Cost. You will be able to view your quotes online in the comfort of your Home. Don't forget, you receive a 20% credit on your NYS Income Tax and a deduction on your Federal Income Tax.