Disability & Long-Term CareQuestion 100 of 315
The MAIN consumer benefit of buying a California Partnership for Long-Term Care policy, rather than an ordinary LTC policy, is:
a.Automatic eligibility for federal Medicare nursing-home benefits
b.A waiver of all California premium taxes on the policy
c.Asset protection from the Medi-Cal spend-down equal to the benefits the Partnership policy pays out
d.Coverage of acute medical care that ordinary LTC policies exclude
Explanation
The California Partnership for Long-Term Care lets a person who later exhausts a qualifying Partnership policy keep assets equal to the benefits the policy paid out, sheltered from the normal Medi-Cal spend-down. Partnership policies must also meet stricter state standards, including required inflation protection.
Law Reference: Cal. Welf. & Inst. Code §22000 et seq.; CA Partnership ProgramPractice all 315 questions free — no signup required.
Related questions on this topic
- Under the California Long-Term Care Insurance Reform Act, an applicant for an individual LTC policy has how many days to return the policy for a full refund of premium?
- What inflation protection must a California LTC insurer offer to each applicant for a new individual long-term care policy?
- In California, a long-term care policy may NOT exclude a pre-existing condition for more than how long after the policy's effective date?
- Compared with a non-tax-qualified long-term care policy, a federally tax-qualified LTC policy:
- Which definition of total disability is MOST favorable to the insured during the ENTIRE benefit period?
- Under a California tax-qualified long-term care insurance policy, benefits are triggered when the insured cannot perform without substantial assistance how many of the six Activities of Daily Living (ADLs)?
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Sen Lin, PrepPass Founder · Verified against California Life & Health Insurance License Exam · How we review
Reviewed by John Zihao Zhang — California-Licensed Life Insurance Agent (CA Dept. of Insurance License #4396095 — verify)