Effective June 1, New York will join the National Reciprocity Compact for the recognition of Medicaid Asset Protection for member states with Deficit Reduction Act (DRA) Long-Term Care Partnership programs.
This change will allow a DRA Partnership policyholder who moves to New York state to take advantage of dollar-for-dollar asset reciprocity if later applying to New York’s Medicaid program to cover continued care. Similarly, a New York Partnership policyholder who moves to a DRA state that is a member of the Reciprocity Compact will also be eligible for a dollar-for-dollar asset reciprocity if applying to that state’s Medicaid program. This recognition is retroactive to all existing New York Partnership policyholders. (Editor note: If only California Partnership would join the 21st Century and also include Reciprocity).
Only traditioinal long term care insurance qualifies for Partnership asset protection, Life/LTC and Annuity/LTC do not qualify, neither do older policies sold before your state adopted Partnership, this includes policies sold by AARP and other marketing outlets. See LTC Partnership Maps for states with LTC Partnership programs.