Goodwin Promotes Long-Term Care Insurance Initiative, Savings for Families and the State

One of Insurance Commissioner Wayne Goodwin's legislative goals in 2010 was North Carolina's recognition of and passage of the special Long-Term Care Partnership initiative, which provides an incentive for individuals to plan ahead for future long-term care and nursing home care needs while preserving and protecting one's savings and estate for the family from Medicaid spend-down requirements. To learn more, go to this link.

"The bottom line is that this Partnership program will allow our citizens to keep more of what they've earned and saved over the course of their lives, and still be able to meet Medicaid eligibility requirements," added Insurance Commissioner Goodwin.

Another beneficial effect of this program: over time, the State budget will save millions of dollars.