(a) There is a Qualified State Long-Term Care Insurance Partnership.
(b) The purposes of the Program are to:
(1) Provide incentives for individuals to insure against the costs of providing for their long-term care needs;
(2) Provide mechanisms for individuals to qualify for coverage of the costs of their long-term care needs under the medical assistance program without first being required to substantially exhaust all their resources;
(3) Assist in developing methods for increasing access to and the affordability of a long-term care policy; and
(4) Alleviate the financial burden on the State’s medical assistance program by encouraging pursuit of private initiatives.
(c) The Program shall:
(1) Be administered by:
(i) The Department; and
(ii) The Commissioner;
(2) Provide for the financing of long-term care services by:
(i) Private insurance; and
(ii) State medical assistance; and
(3) Comply with the requirements of § 1917(b) of the Social Security Act and any applicable federal guidelines.