Colorado launches long-term care insurance program - San Francisco Business Times:

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The "Own Your Future" program, unveiled Tuesday, is overseenm by various state agencies under thelabell "Colorado Long-Term Care Partnership." The program will make availabler an insurance program to Coloradans ages 45 to 65 through privatr insurers. The program "enabled Colorado residents whopurchased Long-Term Care Partnership insurance to have more of theie assets protected if they latef need the state Medicaid program to help pay for theirr long-term care," . Those applying for Medicaifd might otherwise haveto "spend down" more of theifr own assets in order to be eligible for Medicais coverage.
"Colorado is using this approach to give its citizens greatefr control over how they financetheir long-term care and to help shore up the publicf safety net against upcoming demographixc pressures," the website says. Such partnershipws were established by federal law in 2006 to help preserv e the stability of state Medicaidr programs and to promoteprivate long-term care Agencies involved include the state Departmen t of Health Care Policy and Financing, the Division of the Department of Human Service’ws Division of Aging and Adult Services and the Governor’s Colorado Gov. Bill Ritter was to kick off the campaigh at a state Capitol news conferenceat 11:30 a.m.
Tuesday.