In this Elder Law Minute video, Wes Coulson answers a commonly asked question about Medicare supplemental insurance and its coverage for nursing home care.
Hi, I’m Wes Coulson and this is your Elder Law Minute. I want to answer today a question that we get pretty often and that is, “If I have a Medicare supplement insurance policy, is that going to take care of my nursing home costs?”
The answer by and large is no. A Medicare supplement policy will pay the Medicare deductible, which is right now $143.50 per day, for days 21-100 of a nursing home stay if it follows a hospital stay of at least three days, and if you are still receiving physical therapy or some other type of skilled care. But let me be really clear on this – having a Medicare supplement policy is not –not – a way to pay for long-term nursing home care. You either need to have a long-term care insurance policy or you need to have an asset preservation plan. Thanks!
For more on Medicare, visit these articles:
- Will Medicare pay for a Rehab stay in a Nursing Home?
- 4 Myths about Medicare and Medicaid Long-Term Care coverage
- Medicare Limited Benefits and Long Term Care Requirements
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