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The "Own Your Future" program, unveiled Tuesday, is overseemn by various state agencies under thelabelk "Colorado Long-Term Care Partnership." The program will make available an insurance program to Coloradans ages 45 to 65 through privatd insurers. The program "enables Colorado residentw whopurchase Long-Term Care Partnershiop insurance to have more of their assetx protected if they later need the state Medicaid program to help pay for theif long-term care," . Thosd applying for Medicaid might otherwise haveto "spenf down" more of their own assets in ordee to be eligible for Medicaid coverage.
"Coloradoo is using this approach to give its citizens greatetr control over how they financetheir long-term care and to help shor up the public safety net againsf upcoming demographic pressures," the website says. Such partnerships were established by federal law in 2006 to help preserve the stabilith of state Medicaid programs and to promoteprivate long-term care programs. Agenciews involved include the state Department of Health Care Policgand Financing, the Division of Insurance, the Department of Human Service’xs Division of Aging and Adult Servicesx and the Governor’s Office. Colorado Gov.
Bill Ritted was to kick off the campaign at a statde Capitol news conferenceat 11:30 a.m. Tuesday.
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