North Carolina Long-Term Care Partnership Program policies are available. 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 care.
The unique asset protection benefits of a North Carolina Long-Term Care Partnership policy apply if your care needs last longer than the benefits of your Partnership policy. For example, for every dollar your 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.
Rates for a North Carolina Long-Term Care Partnership policy are like regular plans. But we still recommend comparing them with 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 North Carolina Long-Term Care Partnership Program.
Reciprocity allows you to buy a qualifying Long-Term Care Insurance Partnership policy in another state and maintain the special asset protection benefit if you move to North Carolina. The State of North Carolina will also recognize accumulated asset protection for Medicaid qualification if you’re already receiving benefits from your LTC Partnership policy before moving to North Carolina. The majority of states have reciprocity, but not all.