Long-term care insurance generally covers long term care services provided in a nursing home, at home, in an assisted living facility or other community based settings. It is typically purchased for a set period of time and/or a specified dollar amount of coverage. Coverage typically begins when the insured person requires assistance with two or more activities of daily living such as bathing, dressing, transferring and the need for care is expected to last 90 days or more.

The New York State Partnership for Long Term Care insurance policies provide an option that effectively offers a form of lifetime coverage, by combining private long term care insurance with Medicaid Extended Coverage.

Under a Partnership Policy, a New Yorker could utilize their policy according to the terms of the coverage. Once the coverage is exhausted, the policy holder can apply for Medicaid Extended Coverage and protect some or all of their assets, while continuing to receive long term care services, covered by the Medicaid program.

The amount of assets that are protected depends on the type of plan purchased. Total Asset plans protect all assets. Under Dollar for Dollar Asset protection plans, the assets protected are equal to the amount of benefits paid by the insurer. In both situations, the Medicaid requires the care recipient to contribute their income to the cost of care following Medicaid guidelines.

The Deficit Reduction Act restricted some of the advance planning options that individuals and couples previously utilized for long term care financial planning. The New York State Partnership for Long Term Care gives consumers another option that is endorsed by New York state.

If all of this sounds rather confusing, you're not alone. The Cayuga County Office for the Aging provides a long term care insurance education and assistance program to help consumers learn more about the timely topic, in a relaxed unbiased setting. We provide free monthly seminars, confidential one-on-one consultations, and consumer advocacy.

Cayuga County Office for the Aging does not endorse or recommend any specific insurance product or insurer; this program is solely intended to educate consumers about their choices.

Janet Taylor is an aging services specialist for the Cayuga County Office for the Aging. She can be reached at 253-1103.

If you go

What: Long-term care seminar

When: 7 p.m. Wednesday,

Oct. 24

Where: Auburn Holiday Inn on North Street

Cost: Free

To pre-register: Call Brenda Wiemann, aging services specialist, at 253-1017.