Oregon Partnership for Long-Term Care Insurance

Since January 2008 Oregon has offered Long-Term Care Insurance Partnership Policy's, this is a way for residents of Oregon to protect their assets if they ever need to apply for Medicaid. People who purchase qualifying LTC insurance policies, after depleting their insurance benefits, may still qualify for Medicaid, provided they meet all other Medicaid eligibility criteria.

Oregon Partnership program works in the same manner as most all other partnership programs, in that the program provides a dollar-for-dollar asset protection. Each dollar your long-term care insurance partnership policy pays out in benefits entitles you to keep a dollar of your assets if you ever need to apply for Medicaid.

Under the federal Deficit Reduction Act of 2005, OR is an authorized Partnership program state. Oregon Long-Term Care Partnership policies must be tax-qualified, contain certain consumer protection provisions and provide inflation protection.

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

Homemaker Services
$125
Home Health Aide
$132
Adult Day Care
$97
Assisted Living Facility
$127
Nursing Home, Private Room
$250
Nursing Home, Semi-Private Room
$225

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

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

Oregon's Long-Term Care Partnership Program