The New York State Bar and Long Term Care
By jana on Jan 15, 2008 in Long Term Care
When Attorneys make something their top priority is that a good thing or a bad thing? The New York State Bar made Long-Term Care one of their top legislative priorities for 2008. Basically, they state that they support the Compact for Long-Term Care. This Compact is an agreement between the state and a senior who is diagnosed as chronically ill, is uninsurable, but needs care. In other words, it creates LTC services for those who cannot qualify for a long term care policy.
How it seems to work is that the senior would pay a certain pledged amount toward their long-term care and the government would pick up the rest. The Compact was designed to increase the use of private funds, but not require the senior to sell off all their assets in order to receive Medicaid long term care.
Sounds good, right?
There are quite a few naysayers out there. Some feel that the Compact doesn’t do enough, some feel it’s a step in the wrong direction, and others feel that the only ones who will benefit from the Compact will be the attorneys. No wonder they’re backing it…
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