Medicaid Long Term Care Handbook, Planner, and State Resource Guide

State:
Multi-State
Control #:
US-005HB
Format:
Word
Instant download

Description

Saving enough to retire comfortable and leave a legacy to your loved ones requires sound investment and planning. However, many overlook what could be their most costly expense related to aging: paying for long term care. Long term care is expensive whether you receive care in a nursing home, assisted living facility, or in your home. Many people do not have the resources to pay for long term care, including individuals who did well for themselves in their working years. This leaves Medicaid as the only viable option many have to pay for their long term care needs.

Medicaid qualified individuals can receive care: in a traditional nursing home; in a hospice; in their home through a Home and Community Based Services (HCBS) Waiver; through a Program of All Inclusive Care for the Elderly (PACE); or through long term care insurance purchased through a state insurance partnership if you live in New York, Connecticut, Indiana, or California.

This is an excellent guide to help you understand Medicaid, the benefits it provides for long term care, and who may qualify. The guide also contains tips and strategies to help you with your long term care planning, a planner to help you estimate your eligibility, and a state resource guide with state .gov websites, addresses and telephone numbers.

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FAQ

It covers: Inpatient hospital services (Medicare Part A). These benefits include coverage for hospital visits, hospice care, and limited skilled nursing facility care and at-home healthcare. Outpatient medical services (Medicare Part B).

Medicaid is a state-run program offering low-cost or free custodial and medical services to those with low incomes who qualify. Long-term care insurance is private insurance available to anyone who can pay for it.Long-term care insurance offers more flexibility and options than Medicaid.

LTSS Programs Improve Lives Community-based LTSS programs help older adults and people with disabilities live at home or in local settings. The result: better health and maximum independence. Community-based LTSS also provide help and encouragement to family members caring for older adults and people with disabilities.

Medicare covers up to 100 days of care in a skilled nursing facility (SNF) each benefit period.

Medicaid is a state-run program offering low-cost or free custodial and medical services to those with low incomes who qualify. Long-term care insurance is private insurance available to anyone who can pay for it.Long-term care insurance offers more flexibility and options than Medicaid.

Once one's income has been spent down to the medically needy income limit, Medicaid will cover long term care for the remainder of the spend down period. The greater amount of monthly income one has, the higher the amount one has to spend down before Medicaid will pay for long term care.

Medicare covers some types of long-term care including in-home care, hospice care, and short stays at skilled nursing facilities.These include nonmedical services that are commonly provided at nursing homes and assisted living facilities, such as custodial care and room and board.

If you're enrolled in original Medicare, it can pay a portion of the cost for up to 100 days in a skilled nursing facility. You must be admitted to the skilled nursing facility within 30 days of leaving the hospital and for the same illness or injury or a condition related to it.

Medicare helps to pay for your recovery in a skilled nursing care facility after a three-day hospital stay. Medicare will cover the total cost of skilled nursing care for the first 20 days, after which you'll pay $185.50 coinsurance per day (in 2021). After 100 days, Medicare will stop paying.

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Medicaid Long Term Care Handbook, Planner, and State Resource Guide