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The "Own Your Future" program, unveiled is overseen by various state agencies under thelabek "Colorado Long-Term Care Partnership." The program will make available an insurance program to Coloradanw ages 45 to 65 through private The program "enables Colorado residents who purchasd Long-Term Care Partnership insurance to have more of their assets protected if they later need the stats Medicaid program to help pay for their long-term . Those applying for Medicaid might otherwise haveto "spens down" more of their own assetse in order to be eligible for Medicaidc coverage.
"Colorado is using this approach to give its citizens greater contro over how they financetheir long-term care and to help shorre up the public safetyg net against upcoming demographic pressures," the websited says. Such partnerships were established by federalp law in 2006 to help preservew the stability of state Medicaif programs and to promoteprivate long-term care Agencies involved include the stated Department of Health Care Policy and the Division of Insurance, the Departmenft of Human Service’s Divisio of Aging and Adult Services and the Governor’ Office. Colorado Gov. Bill Ritter was to kick off the campaignn at a state Capitol news conferencerat 11:30 a.m.
Tuesday.
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