California Long Term Care Insurance Information

According to the Kaiser Family Foundation, California has a population of more than 38 million people, with approximately 13.3% comprised of people age 65 years and above. Female residents slightly outnumber males, with a figure of 50.3% in the total population.

California has 1212 nursing homes (certified; Medicare and Medicaid) with a total of 118,741 beds to cater to residents. Nursing facilities in the state are ranked 8^th place nationally.

The state has a low prevalence of smoking and obesity, according to America’s Health Rankings. However, the state has a high percentage of uninsured individuals, with an increase to physical inactivity from 18.0% to 21.7% during the last two years.

Average Cost of Long Term Care Services in California

Annual costs (2016) for LTC services in California are as follows:

Home Health Aide (Daily Rate): $150

Nursing Home Care (Daily Rate, Semi-Private Room): $250

Nursing Home Care (Daily Rate, Private Room): $307

Assisted Living Facility (Monthly Rate, 1 Bedroom-Single Occupancy): $4,000

California Long Term Care Partnership Program

California is one of the four original states (the other three are Connecticut, New York, and Indiana) selected for a long term care partnership program. Unlike the other original partnership states, California does not honor partnership policies 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.

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