Nebraska Long Term Care Insurance Information
Nebraska has 15,648 beds in 216 certified nursing homes available to cater to the elderly in the state. Nationally, the state is ranked 32nd in the Medicare 5 Star Quality rating system (as a gauge for nursing home care services in a given state).
For population, Nebraska has 1,896,190 residents (as per a 2015 census). There are more females than male residents in the state, with a figure of 50.2%. For people 65 years and above, they make up 14.7% of the total population.
America’s Health Rankings considers Nebraska as part of the top 10 healthiest states in the country. Nebraska is the only state with a Parkinson’s disease registry. However, a problem heath area that the state currently faces is obesity, with 30.2% residents registered to be overweight (and prone to diseases such as diabetes).
Average Cost of Long Term Care Services in Nebraska
Costs (2016) for LTC services in Nebraska are as follows:
Home Health Aide (Daily Rate): $147
Nursing Home Care (Daily Rate, Semi-Private Room): $185
Nursing Home Care (Daily Rate, Private Room): $211
Assisted Living Facility (Monthly Rate, 1 Bedroom-Single Occupancy): $3,510
Nebraska Long Term Care Partnership Program
Nebraska has an approved state LTC partnership program. The program was approved by the U.S. Department of Health and Human Services last July 1, 2006. 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 Nebraska, 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, 2006).
- State of Residence: The policy holder must be a resident in Nebraska 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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