State RegulationsOH specificDifficulty 2/5
A retired teacher in Columbus with moderate savings is deciding between buying long-term care insurance and simply relying on Medicaid if care is ever needed. Which statement is accurate?
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
The long-term care, Medicare, and Medicaid comparison in the Ohio framework under ORC 3923.41 et seq. and OAC 3901-4-01 recognizes that Medicaid is a needs-based federal and state program that pays for long-term care only after the individual qualifies financially. Long-term care insurance lets a policyholder receive covered care without first exhausting assets to reach Medicaid eligibility, which is why it is often described as an asset-protection tool.
Why the other options are wrong
- A) Medicaid eligibility is means-tested; an applicant with substantial resources does not automatically qualify.
- B) Medicaid is a public assistance program with financial need tests; long-term care insurance is a private contract with no such test.
- C) Medicaid does cover nursing facility care; the eligibility constraint is financial, not a coverage-type ban.
Memory hook
Medicaid is needs-based; LTC insurance shields assets first.