A Long-Term Care Partnership Program is a public-private partnership between states and private insurance companies, designed to allow consumers to have additional “dollar-for-dollar” asset protection if they have a partnership-qualified LTC insurance policy.
Vermont has made initial steps for a Long-Term Care Partnership Program but no policies are available at this time.
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, however, Vermont has yet to make a determination.
Vermont does not offer any state tax incentive for qualified long-term care insurance. Federal tax incentives are still available.
A variety of products are approved in Vermont for Long-Term Care planning.
Vermont Long-Term Care Costs
|Home Health Aide||Average Monthly Rate||$4,767|
|Homemaker Services||Average Monthly Rate||$4,624|
|Adult Day Care||Average Monthly Rate||$2,860|
|Assisted Living||Average Monthly Cost||$4,127|
|Skilled Nursing Home||Semi-Private Monthly||$8,760|
|Skilled Nursing Home||Private Average Monthly||$9,292|