2019 Partnership Minimum Benefit Requirements for CA, CT, IN and NY

Each year, the original Partnership states (CA, CT, IN and NY) revisit minimum benefit requirements to qualify for their Partnership programs. The following information outlines the changes for 2019.

California Partnership
The minimum benefit requirements for Partnership in California will not change for 2019. See table below for the minimum requirements.

Requirements 2018 2019
Minimum Daily Benefit $220 $220
Minimum Monthly Benefit $6,820 $6,820

 

Connecticut Partnerhsip
To qualify for Partnership in Connecticut, policies must meet these minimum daily/monthly benefit requirements:

Requirements 2018 2019
Minimum Daily Benefit $274 $283
Minimum Monthly Benefit $8,334 $8,608

 

Indiana Partnership
The Total Asset Protection for the Indiana Partnership program has increased from $371,462 in 2018 to $390,035 for 2019. The Benefit Increase Options and Daily or Monthly Minimum requirements remain unchanged as follows:

Requirements 2018 2019
Minimum Total Coverage for Total Asset Protection $371,462 $390,035
Minimum Daily Benefit $115 $115
Minimum Monthly Benefit $3,500 $3,500
Benefit Increase Option Age 74 and younger 5% Compound 5% Compound
Benefit Increase Option Age 75 and older 5% Simple 5% Simple

 

New York Partnership
The minimum daily benefit required in 2019 for New York Partnership Plus plans will be $326. Because this amount is higher than the current maximum daily benefit available, we will change the daily benefit amount for New York Partnership Plus plans to $326 to accommodate the partnership requirements. The maximum daily benefit amount for Privileged Choice Flex 3 in New York will remain $300.

Requirements 2018 2019
Minimum Daily Benefit $315 $326

 

Policy Issue

  • CA, CT, and NY Partnership minimum requirements are based on the date of application.
  • Indiana Partnership minimum requirements are based on effective date. Policies that do not meet the criteria for total asset protection will receive dollar-for-dollar asset proteection. Total asset protection also requires the purchase of 5% compound inflation protection.

Transition Rules
We will continue to accept the current forms with applications received through February 15, 2019. After February 15, 2019, new forms will be required.

Quote Tools
Please note that our eSuite of new business tools, Quote It! and Quest will be updated on 1/14/19 to reflect the new Partnership minimum amounts. It is very important to be sure you use the new 2019 minimums when quoting premiums for Partnership policies that will be applied for on 1/1/19 or later.

If we receive a Partnership application with minimums that are less than those necessary to meet 2019 Partnership requirements, we will amend the application to reflect the 2019 requirements.

Important note:

  • If you are using the offline (disconnected) version of Quote It!, you will need to download and install the latest version in order to receive the most recent update. The current version of the software will not automatically update to the latest version. To get the latest update, go to https://longtermcare.genworth.com/quoteit/pages/common/quoteItDownload.jsp and follow the instructions there (ignore the statement about automatic updating). There is no need to uninstall the current version before installing the new one.
  • Prior to soliciting new business, verify your producer license is in good standing, you have completed all required CE, and you are in compliance with all applicable licensure requirements. Applications will be returned if all such requirements have not been met as of the date of the application. For up-to-date information on Genworth applications, education and training statuses to go https://pro.genworth.com.

 
2019 Partnership Minimum Benefit Requirements for CA, CT, IN and NY
 
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