Ohio Long Term Care Insurance Information
Ohio has 361 certified nursing homes which contain 90,845 available beds to cater to senior residents in the state. As per the Medicare 5 Star Quality rating system, Ohio is ranked 44th nationally.
For population, Ohio has 11,613,423 residents, based on a census done July 2015. Individuals 65 years and above make up 15.9% of the given population. Female residents outnumber male residents at 51.0%.
America’s Health Rankings indicated that Ohio has a low incidence rate of Salmonella cases. Additionally, majority of residents in the state are covered by some form of health insurance. However, obesity and diabetes are prevalent, not to mention as well, a low per capita public health funding brings more problems to locals. In terms of obesity, 32.6% of the adults in the state were recorded to be overweight; 11.7% have been diagnosed with diabetes.
Average Cost of Long Term Care Services in Ohio
Costs (2016) for LTC services in Ohio are as follows:
Home Health Aide (Daily Rate): $125
Nursing Home Care (Daily Rate, Semi-Private Room): $210
Nursing Home Care (Daily Rate, Private Room): $240
Assisted Living Facility (Monthly Rate, 1 Bedroom-Single Occupancy): $3,600
Ohio Long Term Care Partnership Program
Ohio has an approved state LTC partnership program. The program was approved by the U.S. Department of Health and Human Services last September 10, 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 Ohio, 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 (September 10, 2007).
- State of Residence: The policy holder must be a resident in Alabama 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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