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2024 PRECINCT  CAUCUS LONG TERM CARE RESOLUTION

 

Whereas, if a person is placed in a publicly funded nursing home or assisted care facility, all of their

assets will be seized to pay for the cost of care.

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And whereas, if they have transferred their assets to another person in the past 5 years, those assets will eventually be “clawed back” to pay for the cost of care (and people who purposefully transfer assets to avoid this are prosecuted).

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And whereas Long Term Care Insurance policies available from corporations have increasingly become impossible for lower and middle-income people to afford.

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And whereas currently the only way to avoid this problem is to set up an Irrevocable Trust (which costs several thousands of dollars, is available only to well-to-do people with access to a lawyer, and risks loss of control of the assets)

Therefore, be it resolved that Minnesota implement a Long-Term Care and Supports system as detailed in the report entitled “The Own Your Future LTSS Funding and Services Initiative: Recommendations and Findings Report” (October 2023),