Louisiana Long Term Care Insurance Information
Based on a 2015 census, Louisiana has a population of 4,670,724 residents. Senior residents (65 years and above) make up 14.0% of the total residents in the state. There are more female residents at 51.1%.
Louisiana is ranked 50th by America’s Health Rankings. The state has a high number of smokers; obesity is prevalent as well. At 29.5%, physical inactivity among adults is high as well. The state, however, has low levels of air pollution and disparity in health status by educational level is small.
The state is ranked at the 52nd spot when it comes to nursing home care services. There are 34,247 beds in 279 certified nursing homes to cater to senior residents.
Average Cost of Long Term Care Services in Louisiana
Costs (2016) for LTC services in Louisiana are as follows:
Home Health Aide (Daily Rate): $100
Nursing Home Care (Daily Rate, Semi-Private Room): $160
Nursing Home Care (Daily Rate, Private Room): $169
Assisted Living Facility (Monthly Rate, 1 Bedroom-Single Occupancy): $3,155
Louisiana Long Term Care Partnership Program
Louisiana has an approved state LTC partnership program. The program was approved by the U.S. Department of Health and Human Services last October 1, 2009. 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 Louisiana, 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 (October 1, 2009).
- State of Residence: The policy holder must be a resident in Louisiana 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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