April, 2006 the Georgia Long-Term Care Partnership plan was signed into law. Part of the goal is to encourage Georgia residents to plan for their later years when the need for Long Term Care (LTC) is generally the greatest. Members of the Partnership include the State of Georgia, qualified LTC insurance plans and Georgia residents. Partnership qualified LTC insurance plans enable residents to protect one dollar of personal assets for every dollar the insurance policy pays out in benefits. The amount of the “Medicaid Asset Protection” is equal to the sum of all the benefits paid under the Partnership qualified policy when the resident seeks to qualify for Medicaid.