Strategies on Paying for Nursing Home Care and Medicaid

Home
>
Elder Care
>
Strategies on Paying for Nursing Home Care and Medicaid

Strategies on Paying for Nursing Home Care and Medicaid

The decision to place your loved one into a nursing home is an extremely difficult decision, often causing much guilt for the caregiver. It is a very emotional decision for most clients we see and most are under a certain amount of stress, often great, when facing what they consider to be a drastic course of action.

I counsel our caregiver clients to get beyond the guilt as quickly as they can, because the situation their loved one is in is not the caregiver's fault. And besides, the longer you remain under this stress, the less healthy you eat, or you eat way too much, the less you sleep, and some start drinking (my own mother started this late at night after she got my dad settled in bed for the evening ? not healthy to say the least).

The stress of caring for a loved one is constant and unrelenting. It is a physical, mental and emotional grind. On numerous occasions, we have actually had caregiver clients die before the spouse in the nursing home. Sometimes, the caregivers die shortly after the nursing home spouse dies. The stress of being a caregiver can be deadly serious, especially for older clients who are caregivers for their spouse.

You have to recognize it and develop a plan to deal with it.

Get your children involved in developing a plan to deal with your loved one's incapacity. And remember, plan for the absolute worst case scenario. Get to an attorney who can help you develop a plan to help you with your particular situation. And this is especially important as soon as you detect any signs of dementia in your parent or spouse, or as soon as you begin to detect physical problems with your loved one. The sooner you begin the plan, the better off the family will be.

NOW, HOW DO WE PAY FOR MAMA'S NURSING HOME CARE? There are really only three ways to pay for a stay in a nursing home.

LONG TERM CARE INSURANCE (LTCI). If Mama was far-sighted enough, she may have purchased LTCI in the past before she needed it. This would be an excellent source of funds to help defray some or all of Mama's long term care costs. Unfortunately, very few seniors, those over age 60, have LTCI coverage.

SELF PAY. This essentially means that Mama has enough income or financial assets to pay her own way in the nursing home. However, many families don't have the income or the financial asset base to be able to pay $4,000 to $7,500 or more a month for a bed for very long in a nursing home.

MEDICAID. This is a state-administered medical benefit program which will pay for the cost of a nursing home stay if three tests are met, i.e., medical need, asset, and income. Medicaid is obviously a needs-based program, funded partially by state funds, but mostly by federal funds. Many people are under the mistaken impression that MEDICARE, which most seniors in this country over age sixty-five participate in to one degree or another, will cover the cost of their stay in a nursing home.

P.L. Fields is a Medicaid Expert and President of Senior Strategies, a service that helps seniors save time and money. To learn more about the secret strategies and solutions that Medicaid lawyers charge to get clients qualified for Medicaid, while protecting their assets, visit: http://www.medicaidsecrets.info

In The News:

Kirkland nonprofit's nationwide tour stops in Bellevue to educate on elder ...
Kirkland Reporter
She joined forces with two local entities: 3 in 4 Need More, a Kirkland-based nonprofit, and Emeritus Senior Living. Together, they have launched a nationwide senior talent competition to raise awareness of the importance of planning for long-term care ...

Learn About Elder Abuse
Patch.com
Adult children need to understand that they have to take care of their aging parents. Credit Elder Care Massage This is a true story of a 92-year-old woman who became a prisoner in her own home. After her grandson moved in with her, he started allowing ...

Senior care franchises: Slam dunk money makers?
Chicago Daily Herald
By Jim Kendall As Americans continue to age, a senior care franchise that helps Mom and Dad live at home would seem to be a slam dunk way to make money. But nothing is a slam dunk. • Rudy VanDerLaan, for the past two years has served as part owner of a ...

National Association of Professional Geriatric Care Managers Releases ...
Houston Chronicle
The National Association of Professional Geriatric Care Managers (NAPGCM) recently surveyed 2215 US adults age18 and over about elder care and aging issues. The Geriatric Care Manager/Aging study was conducted online by Harris Interactive® via its ...

and more »

3 Reasons Why Card-Carrying Capitalists Should Support Paid Family Leave
Forbes
Employee child care and eldercare responsibilities are not only two major external business challenges, but they become internal issues the minute an employee walks in the door or signs onto his or her computer. In the US, we pride ourselves on our ...

and more »

Nurses recognized at SAGE Eldercare in Summit during National Nurses Week
Independent Press - NJ.com
By Independent Press Last week, nurses at SAGE Eldercare were recognized for their loving care during the twenty-first year of National Nurses Week. This annual event, according to American Nurses Association, is an opportunity for the public to ...

As India's old ways change, senior-care homes are on the rise
Los Angeles Times
More of India's urban families are rejecting traditional extended-family households, so older relatives are increasingly moving into elder-care facilities, an idea long stigmatized in the country. Retirees at an elder-care home in Trivandrum, India.

and more »

LeadingAge Statement on Introduction of Legislation To Support Caregivers From ...
Sacramento Bee
By LeadingAge WASHINGTON, May 24, 2012 -- /PRNewswire-USNewswire/ -- We commend Senator Amy Klobuchar for reintroducing the Americans Giving care to Elders (AGE) Act as a manifestation of her commitment to caregivers and the elders that they serve.

and more »

As India's old ways change, senior-care homes are on the rise
Sacramento Bee
India, a nation that prides itself on the inclusive embrace of its extended families, is slowly accepting a feature long common in the West: elder-care facilities. Social changes find more urban families rejecting traditional arrangements involving ...

and more »

kjrh.com
Elder care business owner arrested for theft
kjrh.com
A 73-year old Owasso woman who ran an in-home elder care business is accused of using her ex-con son to steal thousands of dollars from an elderly client. The investigation began last fall when a clerk at a drive-through bank in Owasso became concerned ...

and more »

Google News