Kansas participates in the federal/state long-term care partnership program which was authorized by Congress and signed by President George W. Bush into law in 2005. The Kansas Long-Term Care Partnership Program offers a way for Kansans to protect their assets if they ever need to apply for Medicaid services. The initiative encourages Kansans to partner with the state-based program as they purchase qualified private long-term care insurance policies.
This is called “dollar-for-dollar asset protection” or “asset disregard”. If you have a qualified partnership long-term care insurance policy and exhaust all your benefits you are able to protect your estate, based on the total benefits paid by the policy, and still qualify for Medicaid.
For example, if your policy paid $350,000 in benefits you get $350,000 in asset disregard. No matter what happens, your estate will be protected by that amount.
Most states have reciprocity with other states' long-term-care partnership programs including Kansas. This means if you move from or to Kansas your partnership asset protection follows you as well.
Long-Term Care Medicaid spend down is $2000. A spouse’s minimum asset allowance is $24,720.
A variety of products are approved in Kansas for Long-Term Care Planning. There are no current state tax incentives available at this time, federal tax incentives do apply.
Kansas Long-Term Care Costs
|Home Health Aide||Average Monthly Rate||$4,004|
|Homemaker Services||Average Monthly Rate||$3,813|
|Adult Day Care||Average Monthly Rate||$1,625|
|Assisted Living||Average Monthly Cost||$4,250|
|Skilled Nursing Home||Semi-Private Monthly||$5,551|
|Skilled Nursing Home||Private Average Monthly||$6,167|