How does the Partnership work?
First you purchase a Partnership policy from one of the participating insurance companies. Second, you use the policy benefits. If you need Long-Term Care after policy coverage is exhausted, you are eligible for coverage under New York State Medicaid without having to spend down your assets. The amount of Medicaid asset protection depends on the type of Partnership insurance you purchase. You can choose a policy that offers total asset protection or a policy which offers asset protection up to a defined dollar amount.
