Florida Long Term Care Insurance Partnership Program

Florida’s Long-term Care Partnership Program is a partnership program between Medicaid and private long-term care insurers designed to encourage individuals to purchase private long-term care insurance. Florida long-term care partnership policies are tax qualified (a portion of premiums paid may be claimed as a tax deduction) under federal law; provide policyholders with inflation protection; and most importantly, provide dollar-for-dollar asset protection in the event the policyholder needs to apply for long-term care Medicaid assistance. For every dollar that a Florida long-term care partnership policy pays out in benefits, a dollar of assets can be protected from Medicaid spend-down requirements.

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IMPORTANT FACTS

Effective Date
January 1, 2007
Does 1% Compound Qualify
Yes, for all ages.
Inflation Requirement issue age 60 and under
Annual compound inflation coverage
Inflation Requirement issue age 61 to 75
Annual inflation coverage
Inflation Requirement issue age 76 or over
Not required
What if Inflation Growth stops at age 76
It can qualify for the Partnership