Oklahoma Long-Term Care Insurance Partnership Program

 

The Oklahoma Long-Term Care Insurance Partnership Program is a public/private arrangement with the state government and the private insurance companies. It is designed to encourage residents of Oklahoma to purchase private long term care insurance by allowing policyholders to protect some or all of their assets should they need to apply for SoonerCare (OK Medicaid). Under a Oklahoma Partnership policy the amount of assets that will be protected is based on a dollar-for-dollar arrangement, therefore for every dollar that the insurance policy pays, that is the amount of assets that you will be able to protect should you need to apply for SoonerCare.

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

Homemaker Services
$107
Home Health Aide
$118
Adult Day Care
$53
Assisted Living Facility
$90
Nursing Home, Private Room
$147
Nursing Home, Semi-Private Room
$135

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

Oklahoma Partnership policies are tax-qualified and are available from licensed insurance professionals that represent carriers that are authorized to sell OK LTC Insurance Partnership policies. To speak to a licensed professional in your area you can complete this form.

This information came from the Oklahoma's Long-Term Care Insurance Partnership webpage.