South Dakota Partnership Plan

How did the South Dakota Legislature Arrange Protection for Everyone?

Good News for South Dakotans!!

We all know that long-term care is an important issue, even though we may not want to talk about it. In reality, many of us will need some form of long-term care. Medicines and life style are allowing us to live longer. While the need for long-term care is a normal part of aging, the majority of us do not plan adequately for this need or the costs.

The Deficit Reduction Act of 2005 which our South Dakota legislature made effective in South Dakota on July 1, 2007, brings together public and private insurance resources in an innovative way to help us prepare for potential long-term care needs. Long-term care purchased under this program has created a new opportunity for consumers to enjoy both the benefits of long-term care and asset protection in the event that Medicaid benefits are required.

A South Dakota Partnership policy provides dollar-for-dollar asset protection: for every dollar you receive in benefits, you receive a dollar of assets that can be protected from the long-term care Medicaid resource limit. Medicaid income limits must also be met. Any assets you have up to the amount of Partnership insurance policy paid in benefits will be disregarded.

To find out if you qualify for a Partnership policy, click on the client information button. Take advantage of a long-term care specialist that will call you. They will make sure you receive a no-cost and no obligation briefing on South Dakota’s Long-Term Care Partnership Program.