Liquidating assets medicaid saudi dating email contact
Until this is done, they will be solely responsible for covering the cost of nursing home care.
This is true even if the senior has a private plan to help pay for the care.
In addition to this awful mandate, there is no cap on the amount that has to be spent down.
Every state must adhere to these new regulations, or they will run the risk of losing federal funding.
They have no choice but to watch their assets diminish to the point of non-existence, and there is nothing that can be done about it.
Basically, this means that no matter how much or how little seniors have, they can have absolutely nothing left.
Only then will Medicaid pick up and cover the nursing home costs. It means that years of hard work and intelligent saving and spending has left them with nothing!
In other countries, such as Canada, this is not required.
Summary: Seniors who are entering a nursing home all have the same concern.They will be required to spend down their assets in order to become eligible for Medicaid.This not only affects the person going into the nursing home, but the healthy spouse as well.This requirement leaves the healthy spouse with little to nothing to live on. Plan to Reduce the Cost of the Nursing Home We discuss some ways to avoid the Medicaid nursing home spend down rules.
The protection of assets is a major challenge for seniors.Currently, the government mandates that all assets are to be spent down if either spouse has to go into a nursing home.