Maybe your health is declining or you’ve had a recent “close call” or you’re healthy but are concerned about your family’s history with Alzheimer’s or other illnesses or you’ve seen others have their assets wiped out paying for assisted living or nursing home care, and you’re worried about who will care for you and how you’ll pay for that care in your later years. Maybe you’re concerned about the health of loved one and you stress about how you will manage to pay for their expenses. Regardless of what your concerns may be, proper Medicaid planning is likely the solution to your conundrums. You may qualify for Medicaid to pay your nursing home bills, which can save you thousands of dollars each month, and an experienced elder law attorney can help you find out if you qualify.
Planning Early is Vital for Medicaid Success
Because of the limitations of the options available to pay for care, Medicaid is the most popular option for most Americans. The need for nursing home care does not have to catch you off guard. Planning early is vital, if possible you should begin planning at least five years before you need to enter a nursing home. When you plan far in advance, you can work within Medicaid guidelines to create a plan that protects the majority or all of your assets from long-term care expenses.
The decision to place a loved one in a nursing home is often accompanied by an incredible amount of anxiety and stress. Whether the need for long-term care is brought on by a sudden accident or by a long-term, progressive illness, this is likely an unhappy time for both the person entering the nursing home, the caregiver and everyone else helping with the transition.
Besides the upheaval involved in moving to a nursing home, there is also the stress of figuring out how to pay for nursing home bills that can total thousands of dollars each month. During this time of grief and stress, it’s easy to do nothing and avoid it altogether, assuming it has to come out of your own or your loved one’s savings. However, it is critical to make good financial choices during this period, because these decisions can have far-reaching consequences. Fortunately, there are options for alleviating the burden, and our office is available to guide you through this unfamiliar process.
You Don’t Have to Do This Alone
Few people can afford to pay the full cost of a long-term nursing home stay. So, how do you cover the cost of nursing home care…and who exactly is responsible for the nursing home bills? Our experienced attorneys can guide you through the entire process and be your family’s trusted advocate, helping your loved one find the right nursing home, get the very best care there, and pay for it all without going broke. But timing is everything, so don’t delay in taking the first step.