Nebraska Long Term Care Partnership Program

Nebraska long-term care partnership program state imageNebraska’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. Nebraska 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 Nebraska 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
July 1, 2006
Does 1% Compound Qualify
Yes, for all ages.
Inflation Requirement issue age 60 and under
Any inflation protection that offers an automatic protection of at least 1% per year through the required attained ages or an inflation protection mechanism that is tied to the Consumer Price Index (CPI) as published by a governmental source.
Inflation Requirement issue age 61 to 75
The policy must provide some level of inflation protection.
Inflation Requirement issue age 76 or over
No inflation protection is required.
What if Inflation Growth stops at age 76
It can qualify for the Partnership