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| The WEA Trust introduces new partnership plan |
 Updated November 2, 2009
The WEA Trust is proud to announce that its group long term care (LTC) plan is now a “qualified partnership plan.”
“We’ve always believed in offering our members the best quality products, backed by exemplary customer service,” said Mark Moody, WEA Trust President. “Now our members get the added value of having a qualified LTC partnership plan. We’ve upgraded the policies of all our group LTC members, without additional cost, because we believe so strongly in the value of this benefit.”
A partnership plan―the best choice for LTC insurance
With a partnership plan you receive quality LTC coverage from your Trust plan, with an enhanced benefit. A partnership plan allows you to protect a significant portion of financial assets should you later need to apply for Medicaid for your LTC needs. It’s a dollar-for-dollar arrangement, meaning the personal assets you protect will equal the amount of benefits paid by your Trust group LTC partnership plan.
How it works
For example, let’s say your Trust group LTC partnership plan pays $340,000 in benefits for your LTC services. You have countable assets of $338,000. If you use up your Trust benefits and want to apply for Medicaid, you may be eligible because the state will disregard $340,000 of your assets (the amount paid out by your Trust qualified partnership plan) in determining your eligibility for Medicaid.
Helping to pay for your LTC services
Long term care services are expensive. As the population ages, more people are going to need those services. Some people may rely on Medicaid to pay for their LTC needs, but not everyone qualifies. In most cases, individuals must exhaust their assets to meet Medicaid’s strict financial requirements. Individuals with an LTC partnership plan receive initial LTC coverage from their partnership plan. Plus, if those benefits are exhausted, they may still be eligible for Medicaid.
Achieving partnership status is a mark of distinction
To have your LTC plan receive the designation of a qualified partnership plan is not an easy matter. First, the state of Wisconsin had to meet stringent federal requirements to become a partnership state. Then, each insurance company that wants to have a qualified LTC partnership plan must meet strict government guidelines. The WEA Trust is one of the first insurance companies in Wisconsin to offer a qualified group LTC partnership plan.
“We’re proud to offer our members the benefit of a partnership plan,” said Moody. “It gives them the added security and outstanding value that the Trust is recognized for. It’s how we do business, and that’s the reason our members place their trust with us.”
For more information, please contact a Trust Eligibility Representative at (800) 279-4000.
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