Connecticut Partnership for Long Term Care

 

The Connecticut Partnership for Long Term Care, also known as the Connecticut Partnership Program was the first state to implement a Partnership Program, this was in 1992. The Connecticut Partnership Program works in the same manner as the other state Partnership Programs, where the state of CT partnered with private Long Term Care Insurance companies to offer Partnership Policies that offer the Medicaid Asset Protection should a policy owner ever need to apply for the Connecticut's Medicaid Program for assistance. The CT Partnership Policies will help a policyholder meet their LTC needs without having to deplete all of their assets to pay for care.

Currently there are ten Long Term Care Insurance carriers that have joined an alliance with Connecticut to offer the Partnership policies which the policies do vary from product to product, however considered to be Partnership Policies these policies must include the following:

  • --A minimum daily benefit of $213 for nursing home care and $106.50 for home and community based care, effective January 2012
  • --5% Compound Inflation Protection for those under the age of 65
  • --A broad array of home and community based services
  • --Option to shorter term coverage, as an option to decrease coverage as a way to lower premiums, to prevent the policy from lapsing
  • --5% discount on nursing home rate in CT

A unique agreement Connecticut and Indiana have is a reciprocity agreement, so that if a policy holder buys a policy under one state’s Partnership Program and move to the other state, they can obtain the benefits of the other state’s Partnership Program.

The average costs of care on a daily basis in the state of CT are listed below:

Homemaker Services
$119
Home Health Aide
$132
Adult Day Care
$75
Assisted Living Facility
$147
Nursing Home, Private Room
$400
Nursing Home, Semi-Private Room
$370

*This information came from the Genworth 2012 Cost of Care Survey.

For further information and complete details of the Connecticut Partnership Program visit the Connecticut Partnership for Long Term Care official website.