LONG-TERM CARE
Protect Your Assets with Long-Term Care Coverage
You've spent decades building savings, a home, maybe a business. A long-term care event is one of the few things that can unwind all of it — not because care is optional, but because someone has to pay for it.
How assets get spent
Medicaid does pay for long-term care, but it's a needs-based program: to qualify in Texas, you must first spend your own countable assets down to very low limits. For many families this means the retirement account, the CDs, and sometimes proceeds tied to the home go to the nursing home first, and Medicaid steps in only after the estate is largely gone.
How coverage protects them
- Insurance pays instead of your savings. Benefits step in for home care, assisted living, or facility care so your accounts stay invested and intact.
- Texas Partnership advantage: Texas participates in the Long-Term Care Partnership Program. Buy a qualifying partnership policy, and for every dollar of benefit it pays, you can generally protect a dollar of assets from Medicaid spend-down — a powerful, little-known feature.
- Hybrid options: life insurance policies with long-term care benefits can protect assets while promising that someone — you or your heirs — receives value either way.
The bottom line
Asset protection isn't about being wealthy; it's about not letting one health event undo thirty years of discipline. The planning conversation costs nothing and is best had while you're healthy. Questions? I've been helping Texas families and businesses understand their coverage in plain English since 1993 — no pressure, just education. Angela Hankins, CLTC • Hankins Insurance Services • 713-498-6800 • TxHealth.net Sources: Texas Health and Human Services (Medicaid eligibility); Texas Long-Term Care Partnership Program. Program rules change; confirm current requirements before acting. This article is for educational purposes only and is not financial, legal, or medical advice. Coverage features and eligibility vary by policy and program.