Washington Long-Term Care Partnership

Since January 2009 Washington has offered Long-Term Care Insurance Partnership Policy's, this is a way for residents of Washington to avoid spending down their assets should they ever need to apply for Medicaid. People who purchase qualifying long-term care insurance policies, after depleting their insurance benefits, may still qualify for Medicaid, provided they meet all other Medicaid eligibility criteria.

The Washington State LTC Partnership program provides Medicare asset protection on a dollar-for-dollar basis. Each dollar your insurance partnership policy pays out in benefits entitles you to keep a dollar of your assets if you ever need to apply for Medicaid. For example, if your WA LTC Partnership pays out $250,000 in benefits, Medicaid would allow you keep $250,000 in assets and you would still be able to qualify for Medicaid to pay for your long-term care needs.

Washington's LTC Insurance Partnership program does participate in reciprocity agreement with many other states. This means that even if you buy a WA LTC Partnership policy and move to another state you will be able to protect your assets in that other state as well, as long as the other state participates in the reciprocity.

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

Homemaker Services
 $135
Home Health Aide
$138
Adult Day Care
$59
Assisted Living Facility
$140
Nursing Home, Private Room
$240
Nursing Home, Semi-Private Room
$265

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

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