Idaho Long-Term Care Partnership Program

 

The Idaho Long-Term Care Partnership Program is a program that involves the ID state government and private insurers. The purpose of the Idaho LTC Partnership Program is to encourage Idaho residents to prepare for their future care needs by purchasing long term care insurance.

Under the Idaho Partnership Program, the state will disregard the policyholder's personal assets equal to amounts paid out under a qualifying insurance policy when it determines the person's eligibility for Medicaid assistance. For example, if a qualifying Partnership policy pays out $50,000 in benefits to cover a person's long term care needs, Medicaid would not count up to $50,000 of the person's assets when it determines whether a person is eligible for Medicaid assistance with long term care costs. This means the person would be able to qualify for long term care assistance though Medicaid without first having to spend all of their assets on care.

In order for a policy to qualify for Idaho's Long Term Care Insurance Partnership Program the policy must provide at least the following levels of inflation protection:

  • Under age 61: Automatic compound inflation protection of at least 5%
  • Age 61-75: Automatic annual inflation protection of at least 5% (simple or compound)
  • Age 76+: No inflation require (may be purchased by choice)

As an alternative to the above, a policy may qualify for the ID Partnership Program by providing inflation protection that guarantees automatic benefit increase of not less than the annual percentage change in the Consumer Price Index (CPI). If sold to a person under the age of 61, the CPI adjustments must be made on a compounding basis.

The average costs of care on a daily basis in the state of ID are listed below:

Homemaker Services
$113
Home Health Aide
$116
Adult Day Care
$96
Assisted Living Facility
$106
Nursing Home, Private Room
$220
Nursing Home, Semi-Private Room
$200

*This information came from the Genworth 2012 Cost of Care Survey.

To request a Idaho Partnership Quote, click here!

This information came from the Idaho's Long-Term Care Insurance Partnership webpage.