(1)  An individual who is a beneficiary of a long-term care partnership program policy is eligible for assistance under medicaid using the asset disregard under section 56-1303(3), Idaho Code.
(2)  If the program is discontinued, an individual who purchased a long-term care partnership policy prior to the date the program is discontinued shall be eligible to receive asset disregard.
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Terms Used In Idaho Code 56-1304

  • Asset disregard: means the total assets an individual owns and may retain under medicaid and still qualify for benefits at the time the individual applies for benefits if the individual is a beneficiary of a long-term care partnership program approved policy. See Idaho Code 56-1302
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Department: means the department of health and welfare. See Idaho Code 56-1302
  • Medicaid: means the federal medical assistance program established under title XIX of the social security act. See Idaho Code 56-1302
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114
(3)  The department may enter into reciprocal agreements with other states to extend the asset disregard to residents of the state who purchased long-term care policies in another state which has a substantially similar asset disregard program to the program under section 56-1303, Idaho Code.