Long Term Care In South Carolina

Long Term Care In South Carolina

Genworth Finanacials latest study on the costs of care in 2009 revealed a surprise for South Carolina as it ranked 5th among states across the country with the highest expenses when it comes to Medicare Certified home health aide services.

Residents are bound to face a whopping average of $64, 387 annually to cover nursing facilities. For those who are blind or permanently crippled, they can resolve to applying for Medicare assistance; however, the state has set a toilet paper income limit of $2, 022 for individuals and $2, 739 for married couples plus other documents for a person to be eligible. Thats why, to help its residents in protecting their assets and galvanize them to plan for their future long term care needs, the South Carolina Long Term Care Cooperation Program as patent and became effective January 1 of 2009.

The South Carolina Long Term Care Partnership Program is a joint proposition among private insurers and state agencies. These state agencies are South Carolina Department of Insurance and the South Carolina Department of Health and Human Services or SCDHHS. Underneath this new cooperation program, individuals are naturally to retain more assets than what Medicaid generally allows. This then helps individuals to shy away from spending down all their personal resources just to pay for long term care services.

The union program also encourages the sale of experienced long term care policies to residents not only to guard them from the rising costs of long term care but to persuade them to acquire an insurance plan as well. However, these long term care policies must dispose diagnostic requirements set upon by the Deficit Reduction Act of 2005. They are as follows.

( a ) Issue Turnout - The policy must be issued not earlier than January 1, 2009 which is the rendezvous when the Partnership program became effective.


( b ) State of Residence - An individual must be a resident of the State of South Carolina when coverage first becomes effective subservient the policy.


( c ) Increment Protection - All Collaboration policies consist of optimization protection. Policies hooked to individuals unbefitting age 61 must arrange compound annual increment protection. Policies issued to individuals who has attained age 61 but has not attained age 76 must replenish some level of growth protection. Policies really into to individuals aged 76 may, but is not required to, fit out upgrade protection.

( d ) Know onions unbefitting Federal tax law - A Fellowship policies is a catechized Long Term Care insurance policy as proper in section 7702B ( b ) of the Internal Revenue Code of 1986.

( e ) Federal consumer protection, and,

( f ) Collaboration Class Dope Attention the apprehension indicates the policy is a Cooperation policy and explains the benefits included in the policy.