Protecting Assets Defined
The LTCP allows people with qualified policies to protect assets when they request MA-LTC. What does it mean “to protect assets?”
An MA-LTC client protects assets by designating an amount of assets equal to or less than the amount of LTC services paid by the LTC policy. An asset that is “protected“ is:
- Not counted in the asset total when determining eligibility for MA-LTC. This protection may reduce the client’s assets to within the limits without the client having to reduce them by other means.
- Not subject to estate recovery for MA or AC costs paid at the time of the client’s death. Your county’s estate recovery claims team will work with the deceased’s representative throughout the estate recovery process when assets are or may be protected.
Clients who are exempt from asset limits should still protect allowable assets. If the asset limit exemption ends (i.e., pregnancy ends, child turns 21, MA-AX basis ends), protected assets remain protected from asset limits.
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LTCP Basics