The primary difference between the Colorado Partnership LTC policy and other LTC policies is?

The primary difference between the Colorado Partnership Long-Term Care (LTC) policy and other LTC policies is indeed Medicaid asset protection. This unique aspect allows policyholders to protect a portion of their assets from being counted against Medicaid eligibility when they need to use Medicaid benefits for long-term care services.

The Partnership program is designed to encourage individuals to purchase private long-term care insurance by providing a safeguard. If a policyholder exhausts their insurance benefits, they can then qualify for Medicaid without having to spend down all of their assets, which is often a requirement for Medicaid eligibility. This additional security can incentivize more residents to invest in long-term care insurance, as it combines both the private coverage benefits and the security of Medicaid eligibility.

This asset protection feature distinguishes Partnership policies from traditional Long-Term Care insurance policies, which do not offer this benefit, prompting individuals to potentially put all their savings at risk in the event they need long-term care services. Other options such as longer lifetime benefits, higher daily benefits, or optional inflation protection are common features among various LTC plans but do not specifically set apart the Colorado Partnership LTC policy in the context of Medicaid interaction.