Liquidating assets for nursing home fit and outdoorsy speed dating toronto
After that, the individual is on their own to pay for their care.Another possible payment source is long term care insurance.
These techniques can help protect the financial security of the “at-home” spouse of nursing home resident, can provide families with the security that they need to ensure that they will have some funds available to keep their loved one as comfortable as possible, and can provide assurances to a distraught nursing home resident that they will have preserved something to pass along to their heirs.
Nearly 70 percent of seniors will receive such help sometime during their old age—usually at home, but often in a nursing home. One in five of us will need long term care assistance for five years or more.
A Certified Elder Law Attorney can help ease those costs and burdens.
But unlike Medicare, which is an entitlement program, Medicaid is a means tested program meaning that, in order to receive benefits, an individual must have assets and income below certain limits.
The financial qualification rules for Medicaid qualification are complicated, and often can prevent a long-term care recipient from qualifying for the program.