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Georgia Long Term Care Insurance Information

Georgia has a population of 10,214,860 residents, in a census done last 2015. There are slightly more females in the state, at 51.2%. Individuals 65 years and above make up 12.8% of the total population.

In terms of providing skilled nursing home services, Georgia is ranked 47th place nationally. There are 358 nursing home facilities in the state, with 39,857 beds available for senior residents.

According to America’s Health Rankings, Georgia has a high number of uninsured residents. Additionally, Alzheimer’s is prevalent in the state, with 130,000 estimated cases recorded last 2015.

Average Cost of Long Term Care Services in Georgia

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

Home Health Aide (Daily Rate): $113

Nursing Home Care (Daily Rate, Semi-Private Room): $190

Nursing Home Care (Daily Rate, Private Room): $203

Assisted Living Facility (Monthly Rate, 1 Bedroom-Single Occupancy): $2,850

Georgia Long Term Care Partnership Program

Georgia has an approved state LTC partnership program. The program was approved by the U.S. Department of Health and Human Services last January 1, 2007. 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 Georgia, 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 (January 1, 2007).
  • State of Residence: The policy holder must be a resident in Georgia 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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