1. The Iowa long-term care asset preservation program is established to do all of the following:
a. Provide incentives for an individual to insure against the costs of providing for the individual's own long-term care.
b. Provide a mechanism for an individual to qualify for coverage of the costs of the individual's long-term care needs under the medical assistance program pursuant to chapter 249A prior to substantially exhausting the assets of the individual.
c. Assist in developing methods for increasing access to and the affordability of a long-term care policy.
d. Provide counseling services to individuals regarding planning for long-term care needs.
e. Assist in alleviating the financial burden on the state's medical assistance program by encouraging the pursuit of private long-term care payment initiatives.
2. The department of human services and the division of insurance of the department of commerce shall administer this program as provided in this chapter.
93 Acts, ch 92, §1
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