Ohio long-term care insurance companies can now offer policies that qualify under
the state's Long-term care Partnership Insurance Program. Partnership insurance
offers a way for people to buy long-term care insurance, receive policy benefits
and protect a matching amount of assets if they need to apply for Medicaid. With
any insurance policy, it is important for the consumer to choose the type of coverage
that fits their needs. Only you can decide if Long Term Care insurance is right
for you. Your decision should depend on personal health and wealth matters.
When weighing long-term care planning options, you need you need to be sure you
do your homework: get a realistic idea of what you need and how much you can afford
to pay. Make sure you can pay the premiums and still have enough money for basic
needs such as housing, food, medicines, etc. Ask a trusted friend or relative to
join you when an agent visits your home. Also, have them review the policy to see
what you may have missed. Shop around — long-term care policies can have big differences
in price and benefits.
*ATTENTION LONG TERM CARE ISSUERS – A REMINDER FROM THOMSON REUTERS CONCERNING DATA REPORTING PRE-REGISTRATION
The deadline for the first required data submission by insurers regarding active Partnership policies in force is rapidly approaching---August 1, 2009. We are trying to ensure that all insurers with active PQ policies in force comply with the data reporting requirements. In order for insurers to transmit data files to Thomson Reuters, they must first pre-register with Thomson Reuters in order to establish data transmission protocols. Very few insurers have pre-registered thus far, and we are making an effort to reach out to the industry to ensure that registration occurs on a timely basis.
Registration is a very simple process, and can be conducted by filling out a brief form on the Partnership website at: www.dehpg.net/LTCPartnership/generic.aspx?idir=reporting%20requirements.