Idaho Hammers Out LTC Program Details

A state best known for potatoes and ski slopes is putting the finishing touches on an effort to encourage consumers to protect themselves against the cost of long term care.

Idaho officials are developing the disclosures and sending out the notices necessary to implement their state’s long term care partnership program, which is set to start up this month.

Congress once limited participation in the program to 4 state pilot programs, but it recently agreed to let all states participate.

The program gives states the ability to let residents coordinate approved private LTC insurance policies with Medicaid nursing home benefits.

The program helps the unlucky consumers who use up private LTC benefits protect some of their assets if they end up needing Medicaid nursing home benefits.

In Idaho, program participants who end up turning to Medicaid will be able to keep assets with a value equal to the partnership LTC policy benefit payments, according to a notice issued by the Idaho Department of Insurance.

One notice, Bulletin Number 06-6, advises insurers selling LTC insurance in Idaho that they must start including a notice describing the partnership program in all LTC insurance policies sold in the state, including non-partnership program policies.

The department has posted the disclosure on its Web site, at Document Link

“At a minimum, the required notice must appear before the policy terms,” according to department officials.