Federal Partnership Program
The State of Alaska is not yet participating in the federal/state partnership program. However, Alaska has made initial steps for a Long-Term Care Partnership Program but the program is not yet active.
Alaska features in most expensive nursing home costs in the United States making planning in advance for the costs and burdens of aging an essential part of retirement planning.
Alaska Long-Term Care Medicaid spend down is $2,000. A spouse’s minimum asset allowance is $128,640. Your spouse’s minimum monthly income allowance is $2,641.25. * The home equity limit is $595,000.
For more information about the Medicaid program visit www.medicaid.gov
Products Approved in Alaska
A variety of affordable products are approved in Alaska for Long-Term Care Insurance planning. These include tradition Long-Term Care Insurance, limited-duration plans, and asset-based or “hybrid” policies.
No state tax incentives exist at this time. Federal tax incentives do apply.
*The federal government sets a new minimum and maximum amounts each year, but states can set their own minimum requirements at any level between the federal limits. This information is based on the best available sources.