Dale M Krause
Expert
As a Crisis Medicaid Planner, I am curious to know what happens when a couple applies for Long-Term Care Insurance (LTCI) and only one of them is approved. Do they miss out on the opportunity altogether, feeling disappointed? How does the agent handle such a situation?
From my perspective, as a Crisis Medicaid Planner, the news is not all negative. Healthy spouses can get better LTCI coverage since they no longer need to purchase two separate policies. As for the unhealthy spouse, if they require long-term care in a nursing home, Medicaid benefits are readily available with some simple planning. A Medicaid-compliant annuity (MCA) can preserve any at-risk assets for the healthy spouse.
From my perspective, as a Crisis Medicaid Planner, the news is not all negative. Healthy spouses can get better LTCI coverage since they no longer need to purchase two separate policies. As for the unhealthy spouse, if they require long-term care in a nursing home, Medicaid benefits are readily available with some simple planning. A Medicaid-compliant annuity (MCA) can preserve any at-risk assets for the healthy spouse.