Illinois Long Term Care Insurance Information
There are 12,859,995 residents in Illinois. People 65 years and above make up 14.2% of the population. At 50.9%, females slightly outnumber the male residents in the state.
Illinois is ranked 37th nationally when it comes to providing nursing home care services. There are 762 nursing homes in the state, with 94,220 beds ready for senior citizens.
The America’s Health Rankings recorded that Illinois has high levels of air pollution. Alzheimer’s and diabetes are prevalent conditions in the state. Alzheimer’s has an estimated count of 210,000 cases for 2015; Diabetes a 10.1% figure of diagnosed residents.
Average Cost of Long Term Care Services in Illinois
Costs (2016) for LTC services in Illinois are as follows:
Home Health Aide (Daily Rate): $138
Nursing Home Care (Daily Rate, Semi-Private Room): $184
Nursing Home Care (Daily Rate, Private Room): $205
Assisted Living Facility (Monthly Rate, 1 Bedroom-Single Occupancy): $3,898
Illinois Long Term Care Partnership Program
Illinois has a pending state LTC partnership program.
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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