Members of the Hawaii Senate Human Services Committee have approved a bill, S.B. 2309, that would create a long-term care (LTC) partnership program in Hawaii.
A state LTCI partnership program helps consumers who buy private long-term care insurance (LTCI), then use LTC long enough to exhaust the private LTC benefits. In a partnership state, a consumer who has a qualified LTCI policy can keep more assets than other state residents when applying for Medicaid nursing home benefits.
State Sen. Suzanne Chun Oakland, D-Sand Island, the chairman of the Human Services Committee, introduced the bill.
Cynthia Takenaka, executive director of the NAIFA Hawaii chapter of the National Association of Insurance and Financial Advisors, testified in support of the bill.
Takenaka noted that 44 states now have LTC partnership programs.
Consumers in Hawaii must have less than $2,000 in assets, plus their homes, to qualify for Medicaid nursing home benefits.
If Hawaii creates an LTC partnership program, consumers “will no longer have to become impoverished to qualify for Medicaid,” Takenaka said in a written version of her testimony.