Idaho Long Term Care Insurance Information
Idaho has 78 certified nursing homes. There are 5,858 beds available for senior residents. The state has a high level of skilled nursing home care services – Idaho is ranked 7th nationally.
The state has a population of 1,654,930 residents. Males outnumber females in the state (females make up 49.9% of the population). Individuals in the ages of 65 years and above make up 14.7% of the total population.
According to America’s Health Rankings, air pollution in the state is high. Obesity and physical inactivity is also prevalent. However, diabetes cases are minimal, as compared to other states.
Average Cost of Long Term Care Services in Idaho
Annual costs (2016) for LTC services in Idaho are as follows:
Home Health Aide (Daily Rate): $125
Nursing Home Care (Daily Rate, Semi-Private Room): $229
Nursing Home Care (Daily Rate, Private Room): $244
Assisted Living Facility (Monthly Rate, 1 Bedroom-Single Occupancy): $3,200
Iowa Long Term Care Partnership Program
Idaho has an approved state LTC partnership program. The program was approved by the U.S. Department of Health and Human Services last November 1, 2006. The state will honor partnership from other DRA (Deficit Reduction Act) partnership states.
What is a Long Term Care Partnership Program?
The partnership program is designed to encourage people to purchase long-term care insurance by providing a plan that will allow Medicaid to disregard some or all assets for Medicaid eligibility and estate recovery purposes. Through partnership plans, people will receive asset protection whenever policy benefits are exhausted and will need continued benefits through Medicaid.
Partnership qualified insurance policies allow their holders a much easier time of applying for Medicaid when their current policy benefits have run out. Instead of needing to reach below the asset threshold set by the federal health care program, policy owners can protect an amount of assets equal to their total benefits – allowing them to continue receiving care without the risk of losing their assets to Medicaid estate recovery procedures.
For insurance policies to be certified as Partnership policies in Idaho, the Deficit Reduction Act of 2005 has set a number of requirements that must be met:
- Issue Date: The policy must be issued after the effective date of the Partnership Program in the state (November 1, 2006).
- State of Residence: The policy holder must be a resident in Idaho at the time the coverage became effective.
- Inflation Protection: All Partnership policies must include inflation protection. Policies issued to individuals under age 61 must provide compound annual inflation protection. Policies sold to individuals who have attained age 61 but not yet attained age 76 must include some level of inflation protection. Inflation protection may be offered, but is not required to individuals who have attained age 76.
- Qualified under Federal Tax Law: All Partnership policies must adhere to the definition of a Long Term Care Insurance policy in section 7702B (b) of the Internal Revenue Code of 1986.
- Consumer Protection: The policy must adhere to the requirements defined in section 1917(b)(1)(C)(iii)(III) of the Social Security Act (42 U.S.C. section 1396p(b)(1)(C)(iii)(III).
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