Paying for Nursing Home Care:
A Guide to Medicaid Planning
As we all know, a stay in a nursing home is a substantial cost, and only rising. As a result, individuals and their loved ones need to plan ahead to protect assets they have worked a lifetime for. These nursing home costs could easily impoverish even the most well-to-do families. Should you or your loved one be stricken with Alzheimer’s disease, the average nursing home stay can be 3 years or more. In the State of Florida, with the average cost of a monthly nursing home stay of around $7,500.00, this could amount to $270,000.00!
Three steps to obtaining Medicaid:
- PLAN. We do a comprehensive analysis of the client’s financial and medical condition. An individual plan is then created to preserve the client’s assets by moving the assets according to Medicaid rules.
- IMPLEMENT. We make sure the plan is properly and legally implemented in a timely manner to ensure eligibility as quickly as possible. This includes the preparation of any necessary legal documents.
- APPLY. We review and organize the client’s case in preparation for the Medicaid application and we prepare and submit the Medicaid application on the client’s behalf in addition to following up on any subsequent questions from Medicaid.