Medicaid Crisis Action Plan–When you or your loved one did not implement five-year pre-planning but encounter an unexpected health condition requiring custodial care, that is what we call a “crisis.” Why? Your family is suddenly facing huge expenses and administrative hoops. Medicare, an age-based program, will pay UP TO 100 days of custodial care (meaning care for which you don’t need a doctor or nurse, but which helps you with things like standing, transferring, walking, bathing, dressing, toileting, feeding, etc.)
After Medicare no longer pays, your options are to private pay (out of pocket $7,000 to $9,000 per month), use long term care insurance already in place, apply for the V.A. Benefit if available, or apply for Medicaid. To receive Medicaid, single persons must spend down their savings to the point where they have only $2,000 (and other restrictions apply). Married couples have to spend down by a more complex set of rules, but basically the well spouse is left with very little in savings to sustain the rest of his or her lifetime!
However, there are legal strategies by which the pain of this spend down process can be diminished and more savings can be preserved to ensure the quality of life of the client, as well as his or her spouse. At the first sign of a health crisis that will have long-term effects, consult with an elder law attorney. Call us at 419-891-8884 for an appointment. (But better yet, don’t wait until it is that late to take care of yourself and your family. Consider an Advanced Estate Plan).