The Source for Health Insurance Houston TX – Quotes and Information

Here at MultipleHealthQuotes.com we can help you find comprehensive information on health insurance Houston, TX to find the right plan for your life situation. Make your research on Texas state insurance regulations for your type of health insurance.

Texas Long-Term Care Partnership Program

This program was created for Texans as an incentive to get coverage for their long-term care needs. It's a partnership effort between the state and private insurance companies.

Agents should complete required training to sell these partnership policies and private insurers must follow guidelines by the state and federal governments.

Partnership policies will still require you to meet medical, income, and other criteria to be eligible for Medicaid, but they have an asset disregard benefit that allows you to match each dollar of long-term care benefits with one dollar of qualified assets and the amount will be disregarded in computing your eligibility for Medicaid. This means to qualify for Medicaid, you won't need to "spend down" your assets.

Long-term care partnership policies also include the "inflation protection" benefit that helps your policy to continue to pay for your long-term care benefits as living costs rise.

There are different levels of inflation protection based on your age:

Below 61 years old your insurance company is required to offer you an option buy 5% compounded yearly inflation protection. You can opt to buy coverage at a lower rate, but you need to retain some form of compound inflation protection.

Between 61 to 76 years, you must buy and retain an inflation protection form.

After age 76, you don't need to purchase or retain some form of inflation protection but insurers are required to offer it.

You should ask your agent if a partnership policy is something that can meet your needs, if you're thinking about getting a long-term care policy. Take note that partnership policies are accompanied by disclosure statements identifying it as a long-term care partnership policy.

You can lose your partnership policy status if you make any changes to your partnership plan. Ask your agent what changes will result if make a change in status.

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