Montana Long Term Care Costs & Insurance Quotes
According to the 2000 U.S. Census, Montana ages faster than the rest of the states with 13.4% of the population 65 years and older as compared to the 12.1% of all the other states, while statistics accumulated in 2003 even projected that Montana is expected to rank 3rd in the whole of United States with regards to the percentage of residents who are 65 years old or older at 25.8%.
With this in mind, the State Plan on Aging has streamlined their goals in order to provide their elderly residents a chance of having better and more comfortable life through assistance and other benefits made especially for their advantage. The benefits include access to health and long-term care via Aging and Disability Resource Center programs, enable them to get community or home-based long-term care services, and continue to make use of the other long-term care programs and services.
After the creation and implementation of the Deficit Reduction Act of 2005, which initiates the utilization of Long-Term Care insurance Partnership Program, the state of Montana has decided to adopt and acknowledge the benefits being offered by the program.
The Montana Long-Term Care Insurance Partnership Program is a joint effort of the local state government and some private companies who share the same vision of providing Montanans with affordable long-term care insurance policies. The partnership program allows them to still apply and qualify for Medicaid benefits should their health condition require continuous care.
Through the Dollar-for-Dollar asset protection feature, the insured individual gets to keep a portion of his assets which Medicaid would disregard when determining his qualification for additional Medicaid benefits. Below are the Median Costs for Care in Montana.
| Region | 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) |
| Billings | $20 | $3,010 | $170 | $179 |
| Great Falls | $19 | $2,930 | $204 | $224 |
| Missoula | $20 | $2,798 | $201 | $211 |
| Rest of State | $19 | $2,925 | $171 | $187 |
The Montana Long Term Care Partnership Program Features
Although the requirements and qualifications for each state may vary, all partnership policies should have the following mandatory features:
- A minimum of 3-year benefit period
- A minimum daily or monthly benefit amount
- Inflation protection for policies acquired at younger ages
Inflation Protection on Long Term Care Insurance Policies
All partnership policies, to be considered authorized and valid, should offer certain levels of inflation protection to all policyholders. This is one of the most important features of long-term care plans because the value of your policy keeps up with the increasing costs of LTC services. You may end up using long-term care services that are higher in value than what you have actually paid for. Below are the levels of inflation protection that a partnership policy provides:
- Under 60 years old: The policy is required to have Annual Compound inflation protection
- 61 to 75 years old: The policy may have Simple or Compound Inflation
- 76 years old and above: No inflation protection required
Reciprocity Standards for Long Term Care Plans
Some participating states also have reciprocity agreement wherein a partnership plan purchased in a certain state is still valid and can still be used by the policy owner should he decide to transfer to another state at the time of his long-term care partnership policy usage. This kind of agreement is only applicable to those states who also offer partnership policies and participates in the reciprocity standards of LTC Partnership policies.
Who qualifies for an LTC Partnership Policy in Montana?
Owning a Partnership policy does not ensure an automatic qualification to Medicaid benefits. Eligibility is determined on a case-to-case basis and applications should be supported by financial and non-financial requirements that an applicant may be asked to provide. Proofs of income and other financial resources, proof of citizenship or residency, and the applicant's Social Security number must all be provided in order to process and determine his eligibility for Medicaid benefits.
Medicaid benefits will be discussed by an eligibility officer during an interview with the Medicaid insurance applicants.
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