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Connecticut Long Term Care Insurance Information

Connecticut Long Term Care Insurance Information

Connecticut has 229 certified nursing homes. A total of 27,562 beds are available to cater to senior citizens. The state is ranked 10th place nationally when it comes to skilled nursing home care.

In terms of population, a 2015 census recorded 3,590,886 citizens. Female residents slightly outnumber males at 51.2%. Individuals age 65 years and above make up 15.5% of the population.

The America’s Health Rankings highlighted the state’s challenges of having a high rating of binge drinking and a low per capita public health funding. Also, a rather large disparity when it comes to health status by educational level has been observed as well. Drug deaths are also an issue, with an increase from 11.0 to 13.1 per 100,000 individuals last year.

Average Cost of Long Term Care Services in Connecticut

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

Home Health Aide (Daily Rate): $138

Nursing Home Care (Daily Rate, Semi-Private Room): $407

Nursing Home Care (Daily Rate, Private Room): $440

Assisted Living Facility (Monthly Rate, 1 Bedroom-Single Occupancy): $4,950

Connecticut Long Term Care Partnership Program

Connecticut is one of the four original states (the other three are California, New York, and Indiana) selected for a long term care partnership program. 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 Connecticut, 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.
  • State of Residence: The policy holder must be a resident in Connecticut 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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