How to Keep Nursing Home Costs from Wiping Out Your Life Savings and
Your Family's Assets
Medicaid will pay the entire cost of a long-term stay in a
-- if you know how to qualify!
Medicaid covers approximately 36 million individuals including
children, the aged, blind, and/or disabled, and people who are eligible to
receive federally assisted income maintenance payments.
The program, known as Medicaid, became
law in 1965 as a jointly funded cooperative venture between the Federal and
State governments to assist States in the provision of adequate medical care to
eligible needy persons.
Medicaid is the largest program providing medical
and health-related services to America's poorest people. Within broad national
guidelines which the Federal government provides, each of the States:
- establishes its own eligibility standards;
- determines the type, amount, duration, and
scope of services;
- sets the rate of payment for services; and
- administers its own program.
Thus, the Medicaid program varies
considerably from State to State, as well as within each State over time.
How can we pay for nursing home
care now that my spouse has had a stroke?
The cost of
long term care can be devastating for a married couple. The Medicaid eligibility
rules allow a married couple to protect some assets to provide for the spouse
who is still living at home. The eligibility rules are complex and there is a
lot of misinformation about how a spouse can qualify for benefits.
Can I give away assets to my
children so that I can qualify for Medicaid?
your individual circumstances it may be possible to make gifts to protect some
of your assets from the cost of long term care. The Medicaid gift rules are
complex and the consequences of making a mistake are costly. Before you give
away assets to qualify for Medicaid you need to be clear on how gifts will
affect your future eligibility for Medicaid. (Source:
Seattle, WA Medicaid Lawyer)
How To Choose
a Medicaid attorney |
Why Seek Legal Advice For Medicaid? |
Medicaid Lawyers and attorneys providing Medicaid,
Estate planning, Asset protection,
Nursing home and Alzheimers Disease legal services.
Elder Lawyers On The Web