Montana Long Term Care Insurance Information
Montana has 80 certified nursing homes, which contain 6,678 beds available for senior residents in the state. The state is ranked 33rd nationally in the Medicare 5 Star Quality rating program.
According to a 2015 census, there are 1,032,949 residents in the state. Montana also has more males than female residents, with a figure of 49.7% for women. Individuals 65 years and above also make up 17.2% of the total population.
The America’s Health Rankings has stated that Montana has good air quality. The area is also known for relatively low obesity rates. However, the state has high number of residents who binge drink, which can be related to the increase of diabetes cases of 7.2% to 8.8 during the past two years.
Average Cost of Long Term Care Services in Montana
Costs (2016) for LTC services in Montana are as follows:
Home Health Aide (Daily Rate): $144
Nursing Home Care (Daily Rate, Semi-Private Room): $218
Nursing Home Care (Daily Rate, Private Room): $228
Assisted Living Facility (Monthly Rate, 1 Bedroom-Single Occupancy): $3,513
Montana Long Term Care Partnership Program
Montana has an approved state LTC partnership program. The program was approved by the U.S. Department of Health and Human Services last July 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 Montana, 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 (July 1, 2009).
- State of Residence: The policy holder must be a resident in Montana 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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