Nursing Home Medicaid Planning

The fastest growing segment of our population is the oldest one-third. More and more of this segment of society will need skilled long-term care. Medicaid's Institutionalized Care Program (ICP) helps people in nursing facilities pay for the cost of their care and provides general medical coverage.

If you pay privately for long-term skilled care, the average cost is $9,387 a month. If you pay through Medicaid, the average Medicaid pays is $7,110 a month. If you are paying privately, only after you impoverish yourself, will Medicaid begin to pay.

Paying for these services is a cause of great concern to anyone who is trying to prepare for their future and ensure sufficient funds to pay for long-term medical care, and possibly, nursing home care.

With proper planning, the Medicaid rules allow individuals to preserve assets and provide for their heirs while still taking advantage of Medicaid benefits. There are different options available depending on whether the planning takes place immediately prior to the application for Medicaid or years in advance of the need. Below is more information on the program qualifications and planning tools:    

Please contact our office to schedule a free telephone conference to review if we can help you apply for Nursing Home Medicaid benefits.

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