West Virginia Long Term Care Partnership Program

 

West Virginia has the second largest population of people aged 65 and over with most of the population having yet to secure their financial future. For this being one of the main reason's, the West Virginia Long Term Care Partnership Program is designed to encourage WV residents to purchase private LTC Insurance by offering them the option to exempt some or all of their assets from Medicaid spend-down requirements. This will provide West Virginia residents with the additional benefit of dollar-for-dollar asset protection in the event they utilize their policy benefits and need to seek continued benefits through Medicaid.

Under the federal Deficit Reduction Act of 2005, WV is an authorized LTC Partnership program state. West Virginia 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 WV are listed below:

Homemaker Services
$94
Home Health Aide
$100
Adult Day Care
$52
Assisted Living Facility
$99
Nursing Home, Private Room
$242
Nursing Home, Semi-Private Room
$230

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

West Virginia Partnership policies are available from licensed insurance professionals that represent carriers that are authorized to sell WV Long Term Care Partnership policies. To speak to a licensed professional in your area you can complete this form.