West Virginia Code 9-4E-1 – Purpose
(a) The purpose of this program shall be to reduce Medicaid costs for long-term care by encouraging the purchase of private long-term care insurance policies that are covered under the "qualified state long-term care insurance partnerships."
Terms Used In West Virginia Code 9-4E-1
- Assistance: means the three classes of assistance, namely: Federal-state assistance, federal assistance and state assistance. See West Virginia Code 9-1-2
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
(b) It is the intent of the long-term care partnership to do all of the following:
(1) Provide incentives for individuals to insure against the costs of providing for their long-term care needs.
(2) Provide a mechanism for individuals to qualify for coverage of the cost of their long-term care needs under Medicaid without first being required to substantially exhaust their resources.
(3) Alleviate the financial burden on the state's medical assistance program by encouraging the pursuit of private initiatives.