INSURANCE PARTNERSHIP PROGRAM

Creates the Long-Term Care Partnership Program Act. Establishes the Illinois Long-Term Care Partnership Program, to be administered by the Department of Healthcare and Family Services with the assistance of the Division of Insurance, to do 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) provide counseling services to individuals planning for their long-term care needs; and (4) alleviate the financial burden on the State's medical assistance program by encouraging the pursuit of private initiatives. Sets out the specific duties of the Department and the Division concerning the administration of the Program. Sets out the specific responsibilities for issuers of qualified long-term care insurance partnership policies. Provides that the Department and the Division may adopt rules for the implementation and administration of the Act. Repeals the Partnership for Long-Term Care Act. Effective immediately.