Close Close
ThinkAdvisor

Portfolio > Alternative Investments > Private Equity

Louisiana Initiates LTC Partnerships

X
Your article was successfully shared with the contacts you provided.

Louisiana officials have announced the start of the state’s Long Term Care Partnership program.

Louisiana joins around 40 other states in offering the partnerships, which are mechanisms that states can use to coordinate Medicaid nursing home benefits with private LTC insurance benefits. Individuals can use partnership coverage to protect some of their assets if they exhaust private LTC benefits and end up needing to use Medicaid nursing home benefits.

In 2008, the average cost of a semi-private room in a nursing home in Louisiana was $118 a day, and care in an assisted living facility cost an average of about $2,500 per month, officials report.


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.