Long Term Care

South Dakota Long Term Care Insurance Costs & Partnership Program Information

The cost of long term care is greatly affected by the population of the senior citizens who are living in a particular state. In 2011, the US Census Bureau reported the population of the senior citizens living in South Dakota is 14.4% of the total population. To others, this might seem like a very small percentage. However, considering the fact that the total population of South Dakota in the said year is 824,082, this small percentage is actually equivalent to thousands of people. Also, experts say that the number of senior citizens in America is expected to have an annual increase. This is the reason more and more people want a brighter spotlight on the issues regarding the long term care policy that will run throughout the state, if ever there is one.

During times like these, the importance of conducting studies regarding the population of all the states in the US could not possibly be more evident. Genworth is one of the most noticeable insurance carriers in the US that takes studies like these very seriously. Their site contains facts regarding the costs of long term care in all the states in the US. These records could be very useful for those people who are planning to get a long term care plan themselves. It gives a rough estimate of how much residents could possibly spend in a year. See below the current cost of long term care in South Dakota.

Region Homemaker Services Hourly Rate
(Licensed)
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)
Rapid City $22 $22 $2,980 $203 $213
Sioux Falls $20 $20 $2,533 $180 $186
Rest of State $21 $21 $2,400 $175 $187

The South Dakota Long Term Care Partnership Program

Just like the other partnership programs in other states, the goal is also the same with the establishment of the South Dakota Long Term Care Partnership Program. The main goal is to create a program that will work with all the residents of that particular state. This means that all residents who have different monthly incomes will be able to get a plan that they will be able to pay without having to downgrade their assets as much as an ordinary plan will make them do. This program could not come in a better time since the recession is just around the block when this program was fully established. Thanks to this program, more people will be able to afford a plan.

Features of a South Dakota Long Term Care Partnership Policy

The Partnership Program is a partnership between the state and the private insurance industry which aims to give people more affordable choices in line with their long term care plans.

Through Partnership-qualified long term care insurance policies, residents of South Dakota will be able to protect a bigger amount of their assets in case they decide to apply for Medicaid coverage in the future because such products carry an asset disregard feature. This means that the amount of their assets, which is equal to the total amount of benefits received from their Partnership policies, will be disregarded during the Medicaid eligibility process. It does not follow, though, that owning a Partnership policy will instantly qualify the insured for Medicaid coverage as other Medicaid eligibility criteria still apply.

Here below are other requirements that a qualified policy should meet under the Partnership Program:

Programs Promoting South Dakota Long Term Partnership Program

Even though the provisions included in the South Dakota Long Term Partnership Program already sound good alone, the government is always on its toes when it comes to finding ways to encourage residents to purchase a plan. This is why different local programs are held either monthly or annually to educate the residents about the importance of having a long term care policy. In South Dakota, public education sessions are held all over the state.

Some might think that going to these sessions will only make them tired. They seem to forget public sessions like these help residents get the latest information regarding the plans that will work for them and how these plans can help them save a lot of money. Also, it is also a great way for the residents to meet other people who are looking for the same thing. It is in sessions like these that people can talk amongst themselves so that they will be able to know the point of view of others who are in the situation that is almost the same as their own.

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