What is the main purpose of the South Carolina LTC Partnership program?

The South Carolina Long-Term Care (LTC) Partnership program primarily aims to assist individuals in planning for their long-term care needs. This program is designed to encourage individuals to invest in private long-term care insurance by providing them with a financial safety net. If they exhaust their private insurance benefits and eventually need to rely on Medicaid for assistance, the Partnership program allows them to protect a certain amount of their assets from being counted against Medicaid eligibility. This helps ensure that individuals have a plan in place for their long-term care while also promoting the use of private insurance, which consequently eases the burden on the state’s Medicaid program. By fostering a proactive approach to long-term care planning, the program ultimately aims to improve the quality of care and financial security for residents in South Carolina.