The State of Illinois is in the process of implementing the federal/state partnership program which was authorized by federal law in 2005.  The financial burden of long-term care can be so large that, for many individuals (particularly those with moderate and upper-middle income) the only option is Medicaid, which requires spending down all assets in order to qualify to receive long-term care benefits.

The Illinois General Assembly declared that Medicaid is not intended to cover the majority of long-term care expenses. Medicaid is the largest source of funding for long-term care in the United States, making the financing of long-term care costs a significant issue for both state and federal budgets. Furthermore, the growth in spending by both entities via through Medicaid will likely continue to increase as the American population ages.

One way to help address climbing Medicaid expenditures is to encourage individuals to plan for their own long-term care events. As an incentive, the Long-Term Care Partnership Program was created. This program is a public-private partnership between states and private insurance companies that aims to reduce future Medicaid costs for long-term care by delaying or eliminating dependence on Medicaid.

Long-Term Care Medicaid spend down is $2000. A spouse’s minimum asset allowance is $123,600.

Most states have reciprocity with other states' long-term-care partnership programs including Illinois. This means if you move from or to Illinois your partnership asset protection follows you as well.

A variety of products are approved in Illinois for Long-Term Care planning. There are no current state tax incentives available at this time, federal tax incentives do apply.

Illinois Long-Term Care Costs

Home Health Aide Average Monthly Rate $4,290
Homemaker Services Average Monthly Rate $4,195
Adult Day Care Average Monthly Rate $1,563
Assisted Living Average Monthly Cost $3,720
Skilled Nursing Home Semi-Private Monthly $5,688
Skilled Nursing Home Private Average Monthly $6,524
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