Tennessee Long-Term Care Insurance Partnership Program

 

The Tennessee Long-Term Care Insurance Partnership Program is a partnership between the state and private insurance companies to assist individuals in planning for their LTC needs. Partnership policies will protect the policyholder's assets through Asset Disregard under TennCare, Tennessee's Medicaid program.

Tennessee's Asset Disregard 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, TN is an authorized Long-Term Care Partnership program state. Tennessee Partnership policies must be tax-qualified, contain certain consumer protection provisions and provide inflation protection. Read more for the state and federal requirements.

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

Homemaker Services
$103
Home Health Aide
$108
Adult Day Care
$55
Assisted Living Facility
$109
Nursing Home, Private Room
$191
Nursing Home, Semi-Private Room
$180

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

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