The decision to place a love one in a nursing home is a difficult one. While the utmost concern is to obtain the best care available, finances may sometimes be an obstacle very difficult to overcome. It can cost over $72,000 annually for nursing home care.
The odds of ending up in a nursing home are increasing every day for older Americans. It helps to remember that there are three ways to pay for long-term nursing home care:
1. With your own money;
2. With Long-Term care (LTC) insurance, or
3. With government funds through the Medicaid program or VA Aid and Attendance
In reviewing this guide, please remember that Medicaid is not Medicare. Medicare is a federal medical insurance program available to people over 65 who qualify, for which premiums are paid and which does not cover long-term nursing home care.
Medicaid for long-term nursing home care, on the other hand, is a federal/state needs-based public assistance program which is available only after income and resource tests have been met.
Medicaid (in Arizona we operate under a special form of Medicaid called the Arizona Health Care Cost Containment System, (AHCCCS), and its subsection, Arizona Long Term Care System, (ALTCS), is a needs-based program that pays for individuals in nursing homes.
The applicant must meet certain medical and financial criteria, and be a citizen of the United States or resident legal alien.
There are different rules for single people and married people. The timing of the application for assistance with long term care under ALTCS is also important. Some planning procedures cannot be initiated after application or after the individual has been in the nursing home for an extended period of time.
Legal Awareness for Seniors understands Medicaid eligibility requirements and specializes in developing Veterans Benefits plans that do not preclude a future Medicaid application. The key to doing so is devising a plan that includes flexibility for changing long-term care needs.
Call us for a free initial consultation.