South Dakota Long-Term Care Insurance Partnership Program

 

Like most the other Partnership Programs, South Dakota Long-Term Care Partnership Program provides residents of South Dakota an alternative to spending down or relocating assets by creating a partnership with Medicaid and private LTC insurance companies. This partnership allows individuals a way to afford qualify LTC insurance without having to deplete all of their assets.

The SD Partnership Program will provide Medicaid asset protection. Every dollar that the Partnership Policy pays out in benefits, a dollar of one's assets will be protected. Once all the LTC insurance Policy benefits are used, special Medicaid edibility rules will apply if additional coverage is needed.

South Dakota Partnership Policy's are tax qualified plans under the federal law and provide inflation protection for the policy owners.

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

Homemaker Services
$125
Home Health Aide
$125
Adult Day Care
$29
Assisted Living Facility
$90
Nursing Home, Private Room
$188
Nursing Home, Semi-Private Room
$180

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

To request a SD Long-Term Care Partnership Quote, click here.

For further information and complete details of the SD Partnership Program visit the South Dakota Long-Term Care Partnership Program official website.