LTC Partnership Approved in New Mexico

Great news! Partnership has been approved in NM on November 12, 2019. The Partnership Program is designed to allow those who have a qualifying policy to protect their assets from Medicaid spend-down requirements on a dollar-for-dollar basis, equal to the amount of any long-term care insurance benefits received.

For a policy to be eligible for Partnership, it must:

  • Be tax-qualified (MutualCare Solutions policies meet this requirement)
  • Be purchased in a state where Partnership is approved
  • Have inflation protection based on specific age brackets at time of purchase

LTC13 applications signed in New Mexico on or after November 12, 2019 will determine Partnership qualification based on these new guidelines.

Illustration software and new business policy issue kits are in the process of being updated to reflect NM Partnership. We’ll provide additional communications following implementation.

For more information on LTC Partnership, click here to access our SPA page.
 

LTC Partnership Approved in New Mexico
 

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