Long-Term Care Insurance Partnership Program

The Wisconsin Long-Term Care Insurance Partnership (LTCIP) program uses qualified private long-term care insurance coverage as a funding option to assist individuals in paying for their potential long-term care expenses. The program is intended to encourage the purchase of private long-term care insurance by allowing policyholders to protect some or all of their financial assets should they apply for Medical Assistance.

Individuals who purchase qualified Long-Term Care Insurance Partnership policies receive initial long-term care coverage from their private insurance carrier. If individuals subsequently seek Medical Assistance coverage for their long-term care needs, they may be allowed to exclude a certain amount of personal assets and still be eligible for Medical Assistance. This amount will be equal to the amount of benefits received under the qualified Long-Term Care Insurance Partnership policy. LTCIP is a dollar-for-dollar arrangement meaning that the personal assets protected will be equal to the amount of benefits paid by the qualified private insurance policy.

LTCIP gives individuals another choice to consider as a part of their retirement and financial planning. Individuals are encouraged to discuss the LTCIP with their financial services professional or trusted person with sufficient knowledge of the program and the consumer's financial goals before making a decision.