Maryland Long-Term Care Insurance Partnership policies combine private long-term care insurance with Medicaid asset protection. Only Partnership policies provide this type of asset protection when you need nursing home, assisted living or home health care.
The unique asset protection benefits of a Maryland Long-Term Care Insurance Partnership policy apply if your care lasts longer than the benefits of your LTC Partnership policy. For example, for every dollar your Long-Term Care Partnership policy pays in benefits, a dollar of assets is protected from the long-term care Medicaid asset limit. The protected assets are also exempt from Estate Recovery in the same amount as the benefits paid by your Partnership policy.
Maryland LTC Insurance Partnership policy rates are like traditional policies. Still, we recommend comparing them to non-Partnership policies because you may find alternatives better suited to your needs. This includes hybrid long-term care insurance plans not available under the Maryland Long-Term Care Insurance Partnership Program.
Reciprocity applies when you buy a Long-Term Care Partnership policy in another State and later move to Maryland. Because Maryland has Reciprocity, you will not lose the special Partnership policy asset protection benefit by moving to Maryland. The State of Maryland will also recognize accumulated asset protection for Medicaid qualification, if you were already receiving long-term care benefits before relocating.