Nebraska’s Long Term Care Issues
Nebraska is one of the few states that can boast low Medicaid spending in the area of long term care (LTC). What’s more, it has for many years been encouraging home and community-based LTC services and so residents with Nebraska long term care insurance are hardly seen receiving institutional care.
While other Americans are losing their homes, more Nebraskans have managed to keep theirs and, in fact, their chances of passing on their homes to their children and grandchildren are high. Meanwhile, the number of residents in the state’s assisted living facilities, continuing-care retirement communities, and adult day health care centers among others has increased seven-fold.
It’s fair to say that the government of Nebraska has been doing a great job in controlling its Medicaid expenditures, but unfortunately the state’s population is out of its control. As its residents advance in years, the nursing home population depending on the state’s Medicaid program has evidently increased.
According to research, the population of Nebraska that will potentially need LTC is rising faster than the national average and neither in-home care nor community-based care will suffice for their health care requirements because many of Nebraska’s aging folks have acquired geriatric diseases that will necessitate years of skilled nursing care. This explains the rapid increase of its nursing home population.
Even though there are relatively more in-home care recipients and the number of residents in a community-based LTC facility is fairly larger than a nursing home, the latter turns out with bigger LTC expenses due to the fact that their residents require higher levels of care.
Choosing the Right Nebraska Long Term Care Insurance
Private insurance companies that market long term care insurance (LTCI) policies advise the public to study the options that have been made available to them before they decide to buy a policy.
Given the information that more people in Nebraska will require nursing home care in the future, perhaps policies that are offered under the Partnership Program should be given consideration. The Partnership LTCI Program, an offshoot of the Deficit Reduction Act of 2005, was made possible by insurance companies and government agencies that aim to provide Americans with affordable LTCI coverage and supplemental nursing home care through Medicaid.
Anyone who has a Partnership qualified LTCI policy will have the privilege to apply for Medicaid, without spending down his assets, in order to receive ongoing care. He will be able to keep the amount of his assets that is equivalent to the amount of benefits which has been paid out to him by his policy.
The Partnership Program is beneficial to the public and the government as it allows the former to save on the premium of their coverage while the latter won’t be burdened with the state’s LTC costs that amount to billions of dollars.
Through the Partnership Program, Nebraska will be able to sustain everybody’s LTC but not at the expense of government funds. For further information about Partnership-certified policies, get in touch with your Nebraska long term care insurance specialist.
Still looking for free long term care quote? We can provide you with free quotes from reliable carriers and aside from that we can also give you an idea about your long term care insurance costs.
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