The Long Term Care "Compact" Proposal
NY State legislators are considering a proposal to change the way people access long term care in New York. Under the compact, people who need long term care can pledge substantial portions of their assets and a percentage of future income in return for receiving access to long term care services.
LTCCC and other consumers have serious concerns about the proposal, which could marginalize those who will need Medicaid in the future and is potentially confusing and a bad deal for those who might want to enter into the compact. Because private companies would be providing the compact, we are also very concerned at the prospect of privatizing this important function.
For more information:
LTCCC Testimony at NYS Assembly Hearing
NYS Bar Committee Article Proposing the Compact
Summary of the Compact by Gail Holubinka (Ms. Holubinka is an architect of the proposal.)