Regulatory Bulletin 2009-05
Attachment B
STATE OF ARIZONA
LONG-TERM CARE INSURANCE PARTNERSHIP PROGRAM
PRE-PURCHASE NOTICE
IMPORTANT NOTICE FOR ARIZONA RESIDENTS
WHO ARE THINKING OF BUYING LONG-TERM CARE INSURANCE
Insurance Company Name: _________________________________________________________
Producer’s Name: _________________________________________________________________
Address: ________________________________________________________________________
Phone Number: ___________________________________________________________________
Email Address: ___________________________________________________________________
Long-Term Care Partnership Policies
The State of Arizona has implemented a Long-Term Care Insurance Partnership Program (the
“Partnership Program”) that constitutes
a
partnership between state government and private
Insurance companies voluntarily participate in the Partnership Program by offering long-term
care insurance policies (“Partnership Policies”) that meet special federal requirements.
If you purchase a Partnership Policy and later appl
y for long-term care coverage from Arizona’s Medicaid program, your application will include a Medicaid eligibi
lity feature known as "Asset
Disregard". “Asset Disregard” means that Medicaid will disregard some of your assets in determining
your Partnership Policy. If you are thinking of buying a long-
term care insurance policy, you should
insurance policy should be a Partnership Policy.
Three important things to know about Partnership Policies.
1. The purchase of a Partnership Policy does not automatically qualify you for Medicaid.
rules may not apply to you if your home equity exceeds $500,000.
2.
Asset Disregard is only available under a Partnership Policy and not every long-term care policy is a Partnership Policy.
3. It is possible that a Partnership Policy will lose its Partnership status in the future if:
a. You make a change to a Partnership Policy, including a change to the inflation
protection provisions, if any.
b. You move to a state that does not have a Partnership Program.
c. There is a change to state or federal law that governs the Partnership Program.
Additional Information
If you have questions about buying a long-
term care insurance policy please contact the insurer. If
you have questions regarding current laws governing Medicaid eligibility, please contact the Arizona
Health Care Cost Containment System (“AHCCCS”).
LTCPP-AZ Attachment B