Long-Term Care

Long Term Care Insurance Nevada Partnership Program plus Rates & Companies

Long Term Care Insurance Nevada Partnership Program

Long term care insurance Nevada costs and companies.The Long Term Care Insurance Nevada Partnership is a special program. It combines private long term care insurance coverage with special access to Medicaid. The LTC Partnership program in Nevada allows residents to protect part, or all of their assets, while still qualifying for Medicaid. The special feature works if long term care needs last longer than their Nevada Long Term Care Insurance Partnership policy.

Nevada long term care insurance companies must offer specific benefits in Nevada Long Term Care Partnership policies. This rule by the State of Nevada can help you choose your long term care insurance benefits. It is section 6021 of the 2005 Federal Deficit Reduction Act allows for Qualified State Long Term Care Partnerships. The long term care insurance companies in Nevada work in conjunction with the Long Term Care Nevada Partnership. This program provides long term care policies, know as “Partnership Policies”.

Who Needs Long Term Care Services?

The need for long term care does not only impact seniors. Consider that forty percent of people currently receiving long term care services are ages 18 to 64. According to the U.S. Department of Health and Human Services, about 70 percent of people over age 65 will require some type of long-term care services during their lifetime. On average, women will need 3.7 years of care and men will need 2.2 years of care.

Nevada Long Term Care Costs

Long term care insurance is an important part of retirement planning. Nevada long term care costs are important for Nevada residents to consider. Because, the regional cost of long term care is a key factor in determining how much long term care protection to buy.

An extensive study on the cost of long term care is conducted by Genworth Financial, a Fortune 500 Company. The Genworth Financial 2018 Cost of Care Survey covers national long term care costs and surveyed more than 15,000 long term care providers. Another study by John Hancock includes a Cost of Care Calculator. This useful tool can project Nevada long term care costs to estimate long term care costs in ten, twenty or even thirty years.

Nevada Long Term Care Costs – 2018 (Annual)

RegionNursing Home (private room)Nursing Home (semi-private room)Assisted Living (private room)Home Health Aide (44 hours/wk)
Nevada Median Cost$111,143$98,733$42,000$50,336
Carson City$111,325$108,770$54,000$64,064
Las Vegas Area$112,055$97,273$38,010$50,336
Rest of Nevada$104,755$96,725$37,200$48,048

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Nevada Long Term Care Insurance Cost

A Long Term Care Insurance Nevada Partnership program policy costs about the same as other LTCi policies. This assumes the policies have similar benefits included. The mandated features of a Nevada Long Term Care Partnership policy may limit flexibility in policy benefit design. Thus, it may be wise to compare non-Partnership long term care insurance policies. Because a wider range of choices may be available and more suitable to your situation. An agent who specializes in long term care insurance can help explain your options.


Nevada LTCi Partnership Program Reciprocity

If you buy Partnership Long Term Care Insurance coverage in another State it will have reciprocity with Nevada. This means you will not lose the Partnership LTC asset protection by moving to Nevada. Further, accumulated asset protection for Medicaid qualification is also transferred to Nevada. Accumulated asset protection would occur if you’re receiving benefits from your Partnership policy before moving to Nevada. This is a good resource about reciprocity of long term care partnership programs in Nevada and other states.

Long Term Care Insurance Companies in Nevada

Nevada long term care insurance is available from several well respected insurance companies. We compare these companies to find you the best protection at the lowest cost. Here is a list of long term care insurance companies offering coverage in Nevada:

  • Genworth Life Insurance Company
  • John Hancock Life Insurance Company
  • Mutual of Omaha Insurance Company
  • Transamerica Life Insurance Company
  • United of Omaha Life Insurance Company

Request Nevada Long Term Care Insurance Quotes!

Since 1990, we’ve specialized in Long Term Care planning solutions. We give you professional, unbiased advice to help you decide if Long Term Care Insurance is right for you. We shop all the major long term care insurance companies in Nevada and give you:

  1. Price comparisons customized for your specific situation from respected carriers like Genworth Financial, John Hancock, Transamerica, Mutual of Omaha and others. 
  2. Benefit comparisons of each company’s policy. This side-by-side comparison will cover both the similarities and differences of each plan.
  3. Financial stability reviews of each long term care insurance company’s financial ratings, size and claims paying experience.