Massachusetts Long Term Care Policy Costs & Information
The people of Massachusetts consider health care costs as one of the top health issues that the state needs to address. Long Term Care costs have steadily risen in the past five years. Genworth Financial, a major global insurance carrier, released its findings on the current median cost of Long Term Care in Massachusetts.
| Region | Home Health Aide Hourly Rate (Medicare Certified) |
Assisted Living Facility Monthly Rate (Private room) |
Nursing Home Daily Rate (Semi-private room) |
Nursing Home Daily Rate (Private room) |
| Barnstable | $27 | $4,170 | $302 | $323 |
| Boston Metro | $25 | $4,635 | $304 | $325 |
| Pittsfield | $24 | $4,495 | $268 | $284 |
| Springfield | $24 | $3,810 | $293 | $313 |
| Worcester | $23 | $5,276 | $300 | $330 |
| Rest of State | n/a | $6,400 | $367 | $400 |
Compare the Top Providers
Massachusetts residents can compare the top 8 providers of long term care insurance in the state to get the best price.
Care costs are continuously increasing over the years and residents do not have enough retirement savings to meet the expenses. In fact, only 25% of baby boomers in Massachusetts believe they are prepared for retirement.
Many turn to state funded programs as lack of financial security overwhelms many caregiving families in Massachusetts. In 2000, one in every five adults age 65 and above depended only on Social Security for subsistence. Without Social Security, almost half (47%) of the senior population would have lived below the federal poverty line from 2000 to 2002. This resulted to heavy dependence on public funding for Long Term Care needs.
Although the sales of Long Term Care insurance policies have increased over the years, many still rely on public funding.
Therefore in January 2007, an Act was submitted to the Massachusetts Senate and House of Representative for the establishment of a Long Term Care Insurance Partnership Program in the state of Massachusetts. Under this enabling legislation, a State Plan Amendment shall be submitted to Health and Human Services (HHS), conforming with the provisions of the Deficit Reduction Act of 2005 and the Massachusetts' Long-Term Care Insurance Regulations, 211 Code of Massachusetts Regulations 65.00.
Massachusetts Long Term Care Partnership Program
The Massachusetts Long Term Care Partnership is a partnership program between the State of Massachusetts and private insurance companies. The program provides disregard of assets or resources when determining financial eligibility for assistance through MassHealth (Medicaid). The amount of assets disregarded equals the insurance benefits received from the qualified Long Term Care insurance policy.
Aside from the Asset Disregard Benefit, individuals who purchase Partnership policies will be allowed a deduction from state taxable income, 50% of the annual premium, but not to exceed $3,000 annually. Individuals who are married may each avail the tax exemption of 50% of the annual premium but not exceeding $3,000 per year.
Fill out this short form to get your free quotes from all 8 providers
We don't just offer one solution. We shop all of the major carriers in Massachusetts to offer you the best price. With our 35+ years of Long Term Care insurance experience, we'll save you time and money on your Long Term Care Insurance quotes. We only use your personal information to formulate your quotes and discounts. We will also email you a complimentary copy of the 2010 NAIC Shopper's Guide to Long Term Care Insurance so you can learn even more about LTCi.
Massachusetts Long Term Care Insurance References
- House No. 1004. An Act Relative to a Long Term Care Partnership Program. 2007. The Commonwealth of Massachusetts.
- Section 4. Senate No. 575.
- Long-Term Care Report 2002. The Massachusetts Senate.
- Divided We Fail. Key Findings in Massachusetts. 2008. AARP.
- State-Specific Data From The Genworth 2010 Cost of Care Survey.