Under the Connecticut Partnership Program, private insurance companies competitively sell special long-term care insurance policies. These policies not only offer benefits to pay for long-term care costs, they also offer Medicaid Asset Protection should you ever need to apply to Connecticut's Medicaid Program for assistance.

To help you plan for your financial future, the State of Connecticut has joined forces with private insurance companies to form the Connecticut Partnership for Long-Term Care.

For most people, it is unpleasant to think about needing nursing home or home care when they get older. No one is immune to this possibility. Even more unpleasant is the likelihood that you will have to sacrifice your life's savings to pay for that care -- if you don't plan ahead. The Connecticut Long-Term Care Partnership Program provides additional dollar-for-dollar asset protection so whatever your policy pays in benefits will be disregarded in the spend-down requirements for Medicaid.

Long-Term Care Medicaid spend down is $1600. A spouse’s minimum asset allowance is $123,600.

Connecticut does not, at this time, have any state tax incentive available. However, federal tax incentives are available.

Most states have reciprocity with other states' long-term-care partnership programs including Connecticut. This means if you move from or to Connecticut your additional partnership asset protection will be honored.

A variety of products are approved in Connecticut for Long-Term Care planning.

Connecticut Long-Term Care Costs

Home Health Aide Average Monthly Rate $4,385
Homemaker Services Average Monthly Rate $3,813
Adult Day Care Average Monthly Rate $1,733
Assisted Living Average Monthly Cost $4,600
Skilled Nursing Home Semi-Private Monthly $12,516
Skilled Nursing Home Private Average Monthly $13,505