Many seniors mistakenly believe that Medicare will pay for long-term care expense. In fact, Medicare will only pay for rehabilitation services and only up to 100 days. The first 20 days following a hospital stay of more than 3 days (excluding day of admission and day of discharge) are paid at 100%. The next 80 days have around an OUT OF POCKET expense of $190 per day (the amount is NOT usually covered by Medicare supplement insurance).
After discharge from rehabilitation, you will be responsible for all long-term care charges. Methods of payment include long-term care insurance, privately paying, VA benefits, and Medicaid. Do not assume that you have to spend down to the state mandated $2000 level of assets. There are legal and financial instruments that may allow you to retain more of your assets and most importantly, provide for the needs of your spouse or a dependent or special needs child.
BEFORE YOUR NEXT STEP, GIVE OUR EXPERTS A CALL TO DETERMINE YOUR BEST LOW COST OPTION!
Special Rules for Married Couples
What if your spouse was in the nursing home? How would you meet expenses? How much would you need to meet those needs if your spouse predeceases you? There are special rules for married couples that allow for the state to pay for the care of the first one needing it. We help you understand the rules and regulations that apply to these special situations
Protect Your Estate
It’s not about how much you have, but how much you keep, grow, and pass on to your loved ones. 43% of those who reach age 65 will eventually need to enter a nursing home. Which means quickly using up their estate to ‘Spend-Down’ to qualify for Medicaid.
Did you know? You do not have to 'Spend-Down' your money.
Maximize Your Benefits
Common questions when it comes to handling your estate:
• Can you afford to lose your estate to catastrophic illness?
• Have you protected your assets from lawsuits or creditors?
• Will you leave your children and grandchildren without an inheritance?
With proper planning, you can protect your estate from the Medicaid ‘Spend-Down’ as well as creditors and lawsuits, and you can leave an inheritance for your children and grandchildren.
We Are Your Medicaid Source
Let us help you retain as much of your estate as possible. Without a plan, you may be required to spend down to only $2000 . . . not even enough for burial expenses. Don’t let that happen to you and your family.