Long Term Care

Nevada Long Term Care Insurance, Costs and Partnership Information

Nevada is one of the states that does not only have a high-cost of living but very expensive long term care services, as well. 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 $45,760 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.

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)
Carson City $18 $21 $3,121 $214 $224
Las Vegas-Paradise $20 $20 $3,000 $215 $240
Reno-Sparks $21 $22 $2,750 $235 $271
Rest of State $20 $21 $3,100 $220 $225

Nevada Long Term Care Partnership

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 Long Term Care policies 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 SPA that allows the State of Nevada to participate in the Long Term Care Partnership Program became effective in January 1, 2007.

Partnership Insurance Policies

A "Partnership policy" allows disregard of a policyholder's assets during Medicaid eligibility process should the policyholder require continued coverage after exhausting benefits of his qualified insurance policy. The amount of assets disregarded is equal to the amount of insurance benefits paid by his qualified policy. Therefore, policyholders are not forced to spend down their assets to satisfy Medicaid's income and asset limits, allowing Nevadans to retain their resources and life's savings.

Buying a Partnership-qualified policy, however, does not guarantee instant access to Medicaid coverage as other eligibility rules still apply.

To be considered as a Partnership policy, Long Term Care insurance policies must include the following features, as outlined in Bulletin No. 06-010 of the Nevada Division of Insurance dated December 6, 2006:

Moreover, the person who owns the policy must be a resident of Nevada at the time that the coverage became effective.

Obtaining a Partnership Policy in Nevada

Insurance companies offering Partnership policies must file and obtain approval from the Nevada Division of Insurance before marketing the policies. The Nevada Administrative Code (NAC) 687B.075 requires insurance companies to state if a Long Term Care policy is a qualified Partnership policy or not.

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