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Vermont Long Term Care Insurance Information

According to America’s Health Rankings, Vermont is one of the healthiest states to live in. Ranked 2nd, the state is known for its high number of residents that have managed to secure health insurance. Vermont is also known to be a safe state, with a minimal rate of crime. Challenges that the state is tackling range from working to decrease the number of binge drinkers in the state, and to closing the gap on health status and educational level disparity.
There are 626,042 residents in Vermont, per a census done July 2015. Individuals 65 years and above make up 17.6% of the population; whereas there are more females than male residents at 50.7%.
In terms of providing nursing home care services, Vermont is ranked 18th nationally by the Medicare 5 Star Quality rating system. There are 3,174 available beds in 37 certified nursing homes to cater to the needs of the elderly in the state.

Average Cost of Long Term Care Services in Vermont

Costs (2016) for LTC services in Vermont are as follows:
Home Health Aide (Daily Rate): $147
Nursing Home Care (Daily Rate, Semi-Private Room): $283
Nursing Home Care (Daily Rate, Private Room): $293
Assisted Living Facility (Monthly Rate, 1 Bedroom-Single Occupancy): $4,860

Vermont Long Term Care Partnership Program

Vermont has not filed for a 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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