Nevada Long Term Care Insurance
The Nevada Long Term Care Partnership Program is a program between the State of Nevada and private insurance companies. This public-private partnership aims to reduce Medicaid expenditures for Long Term Care services. The program also encourages Nevadans to consider private funding of their care needs through purchase of qualified Navada Long Term Care Insurance and rely on the policy’s insurance benefits before accessing Nevada’s Medicaid program.The Deficit Reduction Act of 2005 allowed expansion of Partnership programs to other states, including Nevada. But the State of Nevada has to submit first a Medicaid State Plan Amendment or SPA which must be approved by the Centers for Medicare and Medicaid Services or CMS.The consumers can easily do comparison of long-term care insurance quotes, comparing their costs and benefits to select the best insurance company. You can select the most suitable, free long term care insurance quotes on our website with the easy comparison of 3-4 insurance quotes and then selecting the best insurance policy according to your needs. Get the best possible long term care insurance cost by giving the details like the type of policy, zip code
Nevada Long Term Care Insurance
Nevada is one of the states with an expensive cost of services, including Long Term Care. Nevada ranks 5th among states with a high average private pay for adult day care and 9th for Medicare-certified home health aide services.Genworth Financial, a leading global insurance company, compiled a statewide study of Long Term Care costs in the state of Nevada. The study revealed that families can spend an average of $43,091 annually for homemaker services required by loved ones who choose to receive care in their homes. Listed below are the current costs of various Long Term Care settings in metro areas in Nevada.An Nevada Long Term Care Insurance policy provides you, as the purchaser, with the right to apply for Medicaid under modified eligibility rules that include a special feature called an asset disregard’. This allows you to keep assets that would otherwise not be allowed if you need to apply, and qualify, for Medicaid in order to receive additional long-term care services. The amount of assets Medicaid will disregard is equal to the amount of the benefits you actually receive under your long term care Partnership qualified policy.This kind of insurance covers the risks that are not generally covered by either the Health care or Medicare insurance. Long term care insurance plays a very vital role in cutting down the costs of medical and nursing expenditures for the people who have long term disabilities. Under long-term care insurance, many services are covered that may include nursing home care, home health care, assisted living facility, adult day care, hospital care and many more.
