In South Carolina, how are assets treated under the LTC Partnership program?

In the context of the Long-Term Care (LTC) Partnership program in South Carolina, assets are treated in a specific manner that benefits individuals seeking to qualify for Medicaid. When an individual purchases a long-term care insurance policy that is part of this program, certain assets can be excluded from the Medicaid asset calculation.

When individuals apply for Medicaid, they typically must meet asset limits to qualify. However, under the LTC Partnership program, the assets they accumulate as a result of having long-term care insurance are not counted towards these limits. This creates a financial incentive for individuals to purchase long-term care insurance, as it provides protection for their assets while ensuring they still have access to benefits offered by Medicaid when needed.

Thus, the exclusion of these assets from Medicaid calculations serves as a crucial aspect of the Partnership program, encouraging responsible planning for long-term care needs without the fear of depleting one's financial resources.