Oklahoma Long Term Care Insurance Partnership Program

Oklahoma'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. Oklahoma 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 an Oklahoma long-term care partnership policy pays out in benefits, a dollar of assets can be protected from Medicaid spend-down requirements.

With the Oklahoma long-term care partnership program, consumers have access to high-quality, long-term care insurance that will provide benefits should they need long-term care in the future and, at the same time, may allow the consumer to retain some assets in the event that the consumer applies for SoonerCare (Oklahoma Medicaid).