Alzheimer's,dementia and Medicade

payingforalzheimerscare

Alzheimer’s and Medicaid: How Alzheimer’s Families Deal With the Challenges of New Laws

I’m still dumbfounded that Congress determined it was necessary to
change Medicaid Planning techniques that were available to the
the family facing Alzheimer’s. But, not all is lost. There are still many ways your loved
one can qualify.

What is Medicaid you ask? Well, it’s complicated.

This is a federal and state funded and state administered medical
benefit program which can pay for the cost of the nursing home if
certain asset and income tests are met.

There are basically four ways to pay for nursing home care:

1. Private Pay. This is the method many people with Alzheimer’s are required to use
at first. Quite simply, it means paying for the cost of a nursing
home out of your own pocket. Unfortunately, with nursing home bills
averaging between $4,000 and $4,500 per month in our area, few
people can afford a long term stay in a nursing home.

2. Long Term Care Insurance. If you are fortunate enough to have
this type of coverage, it may go a long way toward paying the cost
of the nursing home. Unfortunately, long term care insurance has
only started to become popular in the last few years and most
people facing a nursing home stay do not have this coverage

The first two methods of private pay (i.e. using your own funds)
and long term care insurance are self-explanatory, our discussion
will concentrate on Medicare and Medicaid.

3. Medicare - This is the national health insurance program
primarily for people 65 years of age and older, certain younger
disabled people, and people with kidney failure. Medicare provides
short term assistance with nursing home costs, but only if you meet
the strict qualification rules.

4. Medicaid - This is a federal and state funded and state
administered medical benefit program which can pay for the cost of
the nursing home if certain asset and income tests are met. Since
the first two methods of private pay (i.e. using your own funds)
and long term care insurance are self-explanatory, our discussion
will concentrate on Medicare and Medicaid.

Medicaid has traditionally been.......read the whole post

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