The bill amends Section 40-8-22 of the General Laws in Chapter 40-8, which pertains to medical assistance, by establishing a program called the Rhode Island Partnership for Long-Term Care. This program allows for the coordination of private insurance and funds to finance long-term care. The Department of Human Services is tasked with seeking amendments to its state plan for medical assistance to enable the protection of resources and income for individuals who purchase long-term care insurance policies that meet certain criteria.

The bill specifies that the limitations on trusts shall be disregarded if the individual has purchased long-term care insurance with a coverage payout amount equal to the average cost of long-term care in the State of Rhode Island. It also mandates that insurance benefit payments be counted toward resource exclusion under specific conditions, such as being for services covered under the state plan for medical assistance. The Department of Human Services is required to adopt rules and regulations to implement these provisions and determine eligibility for Medicaid and coverage requirements for long-term care benefits. The act will take effect upon passage.

Statutes affected:
7246: 40-8-22