This handy guide explains “countable assets” and “qualifying expenses” and also provides case studies as examples. Know who can give and receive and how.
Lacking access to alternatives like long-term care insurance or Medicare, most people pay out of their own pockets for long-term care until they become eligible for Medicaid. Since few people have long-term care insurance or can afford to pay the high cost of nursing home care out-of-pocket, most people eventually qualify for Medicaid. By default, it has become the primary source of funding for nursing home care and the long-term care insurance of the middle class. Download the Free Guide by Clicking here.
Be sure you plan accurately and wisely. Any errors can cause Medicaid to deny your claim, impose a penalty period–setting back your plans for you and your family, and cost you money. Let me know if you have any further questions. Our Free Medicaid Planning Consultation (a $450 value) ends 8/31/13.