Long Term Care

Delaware Long Term Care Insurance Costs & Quotes

As the senior population of Delaware continues to grow so does its long term care cost, which has, in fact, exceeded the long term care figures on the national level.

Based on the U.S. Census Bureau's 2011 data, the 65 and older population of Delaware comprises 14.7% of its total population and this percentage is expected to double by 2030.  Meanwhile, the state's 85 and over age group is expected to quadruple and reach about 21 million by year 2050.

A nation that ages fast will have an increased demand for long term care due to various health disorders that come with aging.  According to the 2012 Alzheimer's Disease Facts and Figures, come 2025 the number of people with Alzheimer's disease is likely to reach 6.7 million.  By 2050 it is expected to be between 11 million and 16 million.

Alzheimer's is a serious health disorder that gradually takes away the strength and mental stability of the person afflicted by it.Aside from being a serious condition it can also ruin the finances of many families because skilled care becomes necessary for a person suffering Alzheimer's.

The annual cost of a nursing home on the national level is $81,030 but unfortunately for Delawareans, they have to fork out $96,725 every year.

Below are the current daily rates of nursing homes and other long term care services in Delaware according to Genworth Financial's 2012 Cost of Care Survey. 

Region Homemaker Services Hourly Rate
Home Health Aide Hourly Rate
(Medicare Certified)
Assisted Living Facility Monthly Rate
(Private room)
Nursing Home Daily Rate
(Semi-private room)
Nursing Home Daily Rate
(Private room)
Dover $21 $21 $5,269 $241 $256
Rest of State $20 $24 $4,678 $253 $266

Anticipating Your Long Term Care Needs

Experts say that the best way to plan your future health care needs is to recognize what you can potentially develop health-wise.  Once you have had this figured out, the other details of your plan will just follow.

Your platform is also an important aspect of your plan so after having identified your long term care requirements you have to decide how to lay out your plan.  Those in the know strongly suggest long term care insurance as this is the only product that can simultaneously provide you access to quality long term care services and asset protection via the Partnership Program.

Delaware Qualified State Long-Term Care (LTC) Insurance Partnership

Delaware's total Medicaid spending for the fiscal year 2010 has exceeded $1 billion and the largest portion of its expenditure can be attributed to the health care needs of the disabled and elderly in nursing facilities.

To preserve the funds of the said health care program which is, after all, intended for the poorest in the country, the state implemented the Delaware Qualified State Long-Term Care Insurance Partnership.  This is a partnership between U.S. states that are offering the Partnership Program, state insurance departments, and private insurance companies.

Partnership qualified policies in Delaware allow policyholders to disregard the amount of their assets that is equivalent to the long term care benefits that they have received should they decide to apply to Medicaid to receive ongoing care after having exhausted their benefits.

For a long term care insurance policy to be considered Partnership qualified, it has to meet all of the requirements of the Partnership Program which includes the following:

  1. The policy should have been issued on or before November 1, 2011.
  2. The policyholder should be a resident of Delaware when coverage first took effect. 
  3. The policy should comply with section 7702B(b) of the Internal Revenue Code of 1986.
  4. The policy should provide any of the following inflation protection:

    1. Policyholders under 61 years old should receive compound annual inflation protection.
    2. Those between 61 and 76 years old should get some level of inflation protection.
    3. Anyone who is 76 years old or older may be offered inflation protection but it is not required.

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We don't just offer one solution. We shop all of the major carriers in Delaware to offer you the best price. With our 35+ years of Long Term Care insurance experience, we'll save you time and money on your Long Term Care Insurance quotes. We only use your personal information to formulate your quotes and discounts. We will also email you a complimentary copy of the 2011 NAIC Shopper's Guide to Long Term Care Insurance so you can learn even more about LTCi.

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