Boy, you wouldn’t want to be in a nursing home in a Medicaid Bed because you’re not going to get the same quality of care as somebody who is there paying for that care privately. This is simply not a true statement for a number of reasons. The term Medicaid Bed is a financial term […]
Does Medicaid Pay For Long-Term Care Other Than In A Nursing Home?
The types of long-term care Medicaid is available to cover and pay for differs between Illinois and Missouri. While in both states, Medicaid pays for nursing home care in a nursing home (Medicaid bed), beyond that the two states differ significantly. In Illinois, there are some assisted living facilities that have been certified as supportive living facilities and they are […]
Should I Let A Nursing Home Representative Complete My Medicaid Application?
The question of whether or not to let a nursing home representative complete your Medicaid application comes with an answer that depends on a few variables. In certain situations where you have spent down your life savings, you haven’t made any gifts or transfers of assets within the last five years, you aren’t trying to […]
Alzheimer’s, Family Member Caregivers, and Medicaid and VA Benefits
Government statistics show that literally hundreds of billions of dollars of uncompensated care is provided by family member caregivers to those with Alzheimer’s. This opens up a great planning opportunity for both Medicaid and VA benefits. It is possible to compensate family member caregivers and not have the payments count as gifts, if done correctly […]
Do Living Trusts Protect Assets From Medicaid or VA Spend Down?
Living Trusts are valuable estate planning tools, but they don’t do anything to protect your life savings from long-term care costs during the Medicaid or VA spend down process. For that purpose, we need a different type of trust that can work together with your Living Trust called an Asset Preservation Trust. In this Elder […]