Lesson 2: Things to Remember

  New York Partnership for Long-Term Care Policies feature:

• Partnership logo

• Elimination Period: 100 days maximum for Total Asset Protection policies; 60 days maximum for Dollar for Dollar Asset Protection policies.

• Nursing home care: minimum of 3 years and 4 years, respectively, for Total Asset 50 (3/6/50) and Total Asset 100 (4/4/100) policies; minimum of 1.5 years and 2 years, respectively, for Dollar for Dollar 50 (1.5/3/50) and Dollar for Dollar 100 (2/2/100) policies.

• Home health care: minimum of 6 years and 4 years, respectively, for Total Asset 50 (3/6/50) and Total Asset 100 (4/4/100) policies; minimum of 3 years and 2 years, respectively, for Dollar for Dollar 50 (1.5/3/50) and Dollar for Dollar 100 (2/2/100) policies.

• Combined usage of nursing home and home care days: In the Total Asset 50 (3/6/50) and the Dollar for Dollar Asset 50 (1.5/3/50) policies two home care days equal one nursing home day.

• Assisted living care

• Residential care facility under the Total Asset 100 (4/4/100) and the Dollar for Dollar Asset 100 (2/2/100) policies only.

• Adult day care

• Personal care

• Skilled nursing care

• Respite care

• Hospice care

• Consultation services (care management)

• Alternate level of care (days spent in a hospital waiting for long-term care placement)

• Extended Grace Period