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MedAmerica Adds Colo. Partnership Policy

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MedAmerica Insurance Company has started selling a Colorado long term care partnership policy that pays a cash benefit directly to the claimant.

MedAmerica, a unit of Lifetime Healthcare Inc., Rochester, N.Y., says the Simplicityii LTC insurance policy will pay benefits directly into a qualified claimant’s cash benefits account, regardless of what formal LTC services the claimant has used.

Partnership policies permit individuals who exhaust private LTC insurance benefits to protect some of their assets before drawing on Medicaid nursing home benefits.

MedAmerica recently introduced an LTC partnership policy in South Dakota.