Tennessee Long-Term Care Partnership Program

Tennessee Long-Term Care Partnership Program state imageTennessee’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. Tennessee long-term┬ácare 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 Tennessee long-term┬ácare 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

February 8, 2006

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

Some level of inflation coverage

Inflation Requirement issue age 76 or over

Uncertain

What if Inflation Growth stops at age 76
It can qualify for the Partnership