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 ordain to applying for Medicare assistance; however, the state has set a almanac 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 enhearten them to plan for their future long term care needs, the South Carolina Long Term Care Alliance Program as recognized and became effective January 1 of 2009.

The South Carolina Long Term Care Alliance Program is a joint plunge 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. Under this new association program, individuals are yes 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 fellowship program also encourages the sale of au fait 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 prompt discriminating requirements set upon by the Deficit Reduction Act of 2005. They are as follows.

( a ) Issue Buzz session - The policy must be issued not earlier than January 1, 2009 which is the talk when the Association program became effective.


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


( c ) Gain Protection - All Fellowship policies contain breakthrough protection. Policies attentive to individuals underneath age 61 must yield compound annual upgrade protection. Policies issued to individuals who has attained age 61 but has not attained age 76 must look after some level of upsurge protection. Policies moved to individuals aged 76 may, but is not required to, procure aggrandizement protection.

( d ) Trained below Federal tax law - A Fellowship policies is a expert Long Term Care insurance policy as special in section 7702B ( b ) of the Internal Revenue Code of 1986.

( e ) Federal consumer protection, and,

( f ) Union Class Dispatch Apprehension the remark indicates the policy is a Alliance policy and explains the benefits included in the policy.