Oklahoma Senate
Sen. Wilcoxson says federal action clears the way for Oklahoma law on long term care incentives.
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New Federal Law Enables State Statute Helping Oklahomans with Long-Term Care to Take Effect
State Sen. Kathleen Wilcoxson said Oklahomans can soon take advantage of legislation to encourage the purchase of long-term care insurance—that’s after the recent passage of a federal law authorizing such programs.
In 2004, Wilcoxson authored legislation to help Oklahomans meet their long-term care needs without being forced into poverty. Wilcoxson said the idea was to encourage more Oklahomans to plan ahead for long-term care.
“The problem is that many of our citizens felt they either had to sign away assets or be forced into poverty in order for them to qualify for Medicaid assistance for long-term care,” said Wilcoxson, R-Oklahoma City. “The legislation we approved created a long-term care partnership to offer Oklahomans an alternative to spending down their entire life savings.”
Under the 2004 law, those who purchase long-term care insurance and then exhaust their benefits would still be able to keep assets equal to the amount of the policy and remain eligible for Medicaid assistance.
“However we had to have federal authorization for this program. It’s something I have been discussing with our Oklahoma delegation and now I’m very pleased to report that it has been accomplished,” said
Wilcoxson, adding the next step will be for the Oklahoma Health Care Authority and the Insurance Commissioner to promulgate the necessary rules for the incentive program.
“Providing this incentive to plan for long-term care will benefit citizens and help our already overly strained Medicaid program. This is good news for Oklahoma,” Wilcoxson said.
Contact info
Senator Wilcoxson's Office - (405) 521-5618
