Question :: Who Pays for Long Term Care

Senior Assets at Twilight

My father is 67 years old, mortally obese and has less than $75,000 in assets. If he needed long-term care and ran out of his $75,000 in assets, who pays for his care? Will the care facility or the government come after me and my brother to pay for his care?

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A: Control your senior assets to eliminate debt

This is a question that is often asked too late, well after a loved one is placed in long term care. In the event your father is placed in long term care at the direction of a doctor, he will qualify on 2 out of 3 indicators for Facility Medicaid.

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Tools for a Medicaid Spend Down

A car is an approved item on a medicaid spend down plan

How do I meet the financial requirements?

This is known as a “spend down” and will result in meeting the income and asset requirements to apply for Facility Medicaid.  There are several tools available to qualify for facility Medicaid that sets your family up for a better financial position rather than just spending all the income on long term care.  Below are just a few of the approved methods to complete a medicaid spend down to qualify for facility medicaid.

Home Repairs

If you own a home and intend to return to it, or have a spouse that will remain home, you can make repairs or modifications without penalty.  You could update a bathroom or kitchen, put on a new roof, build an addition, or make any repairs to improve a single house.

Bills (Current or Future)

In order to qualify for facility Medicaid you will never have more than $2000 or a monthly income.  Credit card bills, vehicle loans, mortgage payments, and any outstanding bills are eligible as part of a Medicaid spend down.  It is a good idea to get bills out of the way before moving on to other parts of the spend down.  In addition, if your loved one is only going to be in long term care for less than a year before returning home, you can go ahead and prepay mortgage and car payments so they don’t lose those while in long term care. Continue reading “Tools for a Medicaid Spend Down”

How do I Qualify for Facility Medicaid

Qualify for Medicaid Chess

How do I Qualify for Facility Medicaid?

There are several criteria that need to be met to qualify for Medicaid.  If you have a loved one that needs to be admitted to Long Term Care, you should be able to qualify for facility Medicaid.  The conditions to qualify for Medicaid are listed below.  Eligibility begins on the date a client meets all three criteria.

  • Institutionalized level of care for 30+ consecutive days. (Hospital or Nursing Facility)
  • Aged 65+ OR has been determined blind or disabled
  • Meets the financial requirements

Once you have determined that a loved one needs to be admitted to Long Term Care, the process of qualifying financially can begin. Continue reading “How do I Qualify for Facility Medicaid”