AZ Average daily benefit purchased: $ 144 per day.

The population of Arizona is close to 6.4 million people, and in the top ten of the most populous states in the US. With nearly 900,000 residents aged 65+ (according to the 2010 US Census), there are many residents in the Grandy Canyon State who are in need of Long Term Care services such as home health care and care in Nursing Homes and Assisted Living Facilities. This growing number of Arizonia seniors will increasingly need and use Long Term Care services, putting economic stress on both families and the state. In 2011, Arizona’s Long Term Care Medicad expenses alone exceeded $2 billion.

The Arizona Long Term Care Partnership program is a public-private partnership and innovative program that offers Arizonans affordable, quality long-term care insurance for needed care without depleting all their assets. The program is a joint partnership between the state’s Medicaid program and the insurance companies and is designed to provide Grand Canyon State residents with an incentive to by a Long Term Care insurance policy and better protect their assets.Those who purchase a Long Term Care insurance policy through the Arizona Long Term Care Partnership program are protected both by their private policy and eventually, if needed, by Medicaid. What’s more, most states will recognize a partnership policy purchased in Arizona, even if you move out of state, meaning that Arizonans who purchase a partnership plan get the same Medicaid asset protection if they move somewhere else.

Arizona residents have the choice of around 17 great Long Term Care Insurance companies that can help protect their savings in the event they need Long Term Care services. With this many companies to choose from, and the added security from the Partnership program, Long Term Care insurance should be a key part of Arizona residents’ retirment plans.

Most Popular Long Term Care Companies in Arizona

  • 1) Genworth
    2) Mutual of Omaha
    3) Mutual of Omaha Mutual Care Plus
    4) Genworth Privileged Choice Flex 2
    5) Transamerica
    6) Mutual of Omaha Mutual CarePlus
    7) Mass Mutual
    8) John Hancock Custom Care III
    9) John Hancock Custom Care III 2012
    10) Transamerica TransCare II 2012
    11) Genworth Privileged Choice Flex2
    12) Northwestern Mutual TTQuietCare 2013
    13) Prudential
    14) United of Omaha AssuredSolutions Gold
    15) Genworth Privileged Choice Flex

Most Insured Cities in Arizona

  • 1) Tucson – last quote: $150/day
    2) Phoenix – last quote: $150/day
    3) Chandler – last quote: $150/day
    4) Mesa – last quote: $150/day
    5) Scottsdale – last quote: $150/day
    6) Gilbert – last quote: $150/day
    7) Peoria – last quote: $100/day
    8) Flagstaff – last quote: $150/day
    9) Lake Havasu City – last quote: $100/day
    10) Glendale – last quote: $150/day
    11) Oro Valley – last quote: $200/day
    12) Tempe – last quote: $150/day
    13) Sun City – last quote: $150/day
    14) Goodyear – last quote: $150/day
    15) Laveen – last quote: $150/day

More on Arizona

An article from Tucson, Arizona this morning reminded me that we needed to post an announcement here that Arizona is now a Long Term Care Insurance Partnership state.

What does Partnership Mean, Anyway?

We wrote an article in 2007 that outlined some of the basics of the various Partnership plans.  In a nutshell, Partnership plans are designed by the states to encourage middle-income citizens to purchase Long Term Care Insurance.  In Arizona, the program provides access to Medicaid in an accelerated fashion for those who have assets.  There are plenty of caveats that come along with the program, so you’ll want to review all of the rules.  But, in general, here are a few pointers:

  • You may shield up to the same dollar amount as your Long Term Care Insurance policy has paid out.  For someone purchasing an average plan today (5 yrs, $150/day), that will be well over $1,000,000 in asset protection in 30 years.
  • You will need to purchase inflation protection, subject to age limitations.
  • You will still have to meet all other Medicaid qualifications.

Because the Arizona Partnership Program for Long Term Care is so complicated, it is very important to find an agent who understands the implications of it.  LTC Tree has a network of agents in Arizona and some outside the state who have been educated and certified in the Arizona Long Term Care Insurance state partnership programs for several years, we understand the law and how it may benefit you in your retirement planning.

If you are an Arizona resident, and are interested in the Arizona Long Term Care Insurance Partnership, please allow us to put together our industry leading quote comparisons tailored just to your needs by simply filling in our form below.

Cost of Long Term Care in Arizona

It’s important to know the cost of long term care in Arizona so you can select enough insurance coverage based on your area of residence. Below is a table that highlights the cost of care in different regions of Arizona, based on Genworth’s 2018 cost of care survey.

2018 Annual Cost of Long Term Care in Arizona
REGION PRIVATE NURSING HOME ROOM SEMI-PRIVATE NURSING HOME ROOM ADULT DAY HEALTH ASSISTED FACILITY (PRIVATE ROOM) HOME HEALTH AIDE (44 HOURS WEEKLY
State Median $94,900 $77,928 $24,050 $45,600 $53,196
Flagstaff $100,375 $93,988 – $61,170 $48,048
Lake Havasu City area $91,250 $73,000 – $42,000 $45,760
Phoenix area $101,510 $78,475 $26,000 $46,200 $57,200
Prescott $100,375 $82,125 $20,800 $45,300 $50,336
Sierra Vista area $87,600 $82,125 – $45,600 $51,480
Tucson $98,550 $76,650 $20,800 $48,525 $56,056
Yuma $93,075 $73,365 $19,500 $43,500 $50,336
Rest Of State $82,125 $73,000 $26,000 $40,800 $48,048

Cost of Long Term Care Insurance Premiums in AZ

Premium rates for long term policies can vary depending on aspects such as your age at the time of purchase. LTC Tree recommends that you purchase LTC insurance when young and healthy because you will likely meet most if not all requirements.  Your long term care insurance premiums cost in Arizona are also determined by the following:

  • Benefit period – this refers to the total amount of time (in years) throughout which the insurance policy will pay out benefits.
  • Daily maximum benefit – refers to the maximum dollar amount an LTC policy will reimburse you for each day when you receive care.
  • Elimination period – an elimination period is the length of time between when you start receiving care and when the policy starts paying for that care.
  • Inflation protection – when selected, this policy feature ensures that the benefit dollars you receive should you need long term care in the future are adjusted for inflation.

Arizona LTC Premium Cost Calculations

LTC Tree insurance specialists calculated the average premium cost for males, females, and couples seeking to purchase LTC insurance within the 50 – 65 age bracket at 5 year intervals.These sample premium calculations assume that the policy applicant selects an elimination period of 90 days, a daily maximum benefit of $200, and a benefit period of 3 years.

→ At Age 50

Single Male, Age 50, pays $1894 annually

Single Female, Age 50, will pay $2,277

Couple, each age 50, pays a combined $3,291 annually

→ At Age 55

Single Male, Age 55, pays $1,967 annually

Single Female, Age 55, will pay $2,381

Couple, each age 55, pays a combined $3,308 annually

→ At Age 60

Single Male, Age 60, pays $2,070 annually

Single Female, Age 60, will pay $2,963

Couple, each age 60, pays a combined $3,390 annually

→ At Age 65

Single Male, Age 65, pays $2,627 annually

Single Female, Age 65, will pay $3,921

Couple, each age 65, pays a combined $4,453 annually

Note: premium rates increase as you get older, regardless of gender. Women also tend to pay more for long term care insurance compared to men of the same age. Another important observation from the calculations above is that couples who decide to purchase their policy jointly can save a lot of money in annual premium rates.