Glossary

Dollar-for-Dollar Asset Protection - Normally people become eligible for Medicaid when their assets are below $2,000. Partnership Policyholders are allowed to protect assets equal to the LTC insurance benefits paid on their behalf. This amount of assets is disregarded in the eligibility determination.

Estate Recovery - When Medicaid recovers an amount of money from the estate of a person who received Medicaid. The maximum amount Medicaid recovers is limited to the amount it spent on the person's medical care. Assets protected under a Partnership Policy are also protected in estate recovery.

Inflation Protection Benefit - Increases the daily benefit amount and policy maximums over time to help keep pace with inflation and increased cost of expenses. Partnership policies must include inflation protection benefits when issued to a person under age 76.

Long-Term Care - Necessary diagnostic, preventative, therapeutic, curing, treating, mitigating, rehabilitative services and maintenance and personal care services, required by a chronically ill individual pursuant to a plan of care prescribed by a licensed health care practitioner. These services are not limited to a facility. This definition is used for "qualified long-term care services" in the Internal Revenue Service code.

Long-Term Care Insurance - Insurance available through private insurance companies as a way for individuals to pay for long-term care services.

Partnership Policy - A private LTC insurance policy that allows Georgia policyholders to protect (keep) some or all of their assets if they apply for Medicaid after using their policy's benefits. Georgia is one of only a few States that currently have a Partnership program.