Nursing Home Medicaid Myths

Understanding Medicaid and how such state and federal assistance works can be a daunting task for many families.  Not only is your family in a state of emotional crisis due to the devastating decline of your loved one's health, your family may also be facing financial demise due to the thousands of dollars that will be expended each month to provide the needed care to your beloved family member.

One hears many variations of "rules" when trying to meander through the maze of rules and laws related to such planning.  As the laws related to nursing home Medicaid change frequently, on the federal, state, and administrative agency levels, without professional help, protecting one's interest in this area, can be difficult.

Many families needlessly spend down their life savings on nursing home spend down, not knowing that there are laws that would enable them to protect their financial future.

How can you ensure that you are protecting your family in the most effective way possible?  And that you are not following a myth that could be detrimental to your financial future?

The first step would be to consult with an elder law attorney who can advise you as to what your legal options are and what actions you should be taking in order to protect you and your family.

A married person can often become immediately eligible for Medicaid nursing home benefits, without spending their hard-earned assets on nursing home expenses, and a single person can often protect half or more of their assets from nursing home spend down.  However, in order to engage such protection, there are specific actions that need to be taken.

What is your next step?

How can you avoid you and your family having to face the devastating situation of your or your loved one facing thousands of dollars of monthly nursing home expenses, and compromising your financial future?
 

To avoid such problems, it is recommended that you talk to a legal professional so that you can understand the options available to you and your family.  It is important that you receive this information so that your assets can be protected, and that you and your family are prepared should you face an unanticipated long-term illness.