WAC 182-513-1420 Eligibility for asset protection under a partnership policy.

WAC 182-513-1420 Eligibility for asset protection under a partnership policy.

Effective February 20, 2017

1. The LTC partnership policy must meet all the requirements in chapter 284-83 WAC. For existing LTC policies which are converted to a LTC partnership policy via an exchange or through the addition of a policy rider or endorsement, the conversion must take place on or after December 1, 2011 unless the policy is paying out benefits at the time the policy is exchanged.
2. You meet all applicable eligible requirements for LTC medicaid and:
   1. Your LTC partnership policy benefits have been exhausted and you are in need of LTC services.
   2. Your LTC partnership policy is not exhausted and is:
      1. Covering all costs in a medical institution and you are still in need for medicaid; or
      2. Covering a portion of the LTC costs under your LTC partnership policy but does not meet all of your LTC needs.
   3. At the time of your LTC partnership policy has paid out more benefits than you have designated as protected. In this situation your estate can designate additional assets to be excluded from the estate recovery process up to the dollar amount the LTC partnership policy has paid out.