North Carolina Long-Term Care

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North Carolina

The State of North Carolina participates in the federal/state long-term care partnership program that was authorized under the federal Deficit Reduction Act of 2005. In 2010, North Carolina legislators authorized the establishment of the North Carolina Long-Term Care Partnership (LTCP) Program.

A North Carolina Long-Term Care Partnership policy provides the consumer with additional “dollar-for-dollar asset protection” or what is referred to as “asset disregard”. This means that an amount of your resources equal to the dollar amount of long-term care insurance benefits paid to you, or on your behalf, under the policy may be disregarded for purposes of determining eligibility for long-term care Medicaid and from any subsequent estate recovery for payment of Medicaid services.

The amount that may be disregarded at eligibility will be equal to the amount of the long-term care partnership benefits paid out prior to the time you apply for long-term care Medicaid. As a result, you may qualify to have Medicaid-paid services without first being required to substantially exhaust your personal resources. The amount that may be protected from estate recovery will be equal to the amount disregarded for purposes of eligibility for Medicaid’s LTC benefits.

Long-Term Care Medicaid spend down is $2000. A spouse’s minimum asset allowance is $24,720.

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

There are no state tax incentives available in North Carolina at this time. Federal tax incentives are available.

A variety of products are approved in North Carolina for Long-Term Care planning.

North Carolina Long-Term Care Costs

Home Health Aide Average Monthly Rate $3,766
Homemaker Services Average Monthly Rate $3,527
Adult Day Care Average Monthly Rate $1,192
Assisted Living Average Monthly Cost $3,693
Skilled Nursing Home Semi-Private Monthly $6,950
Skilled Nursing Home Private Average Monthly $7,711