In the Tri-State area, the cost of a nursing home bed ranges between $6,500-$12,500 per month. Because health insurance or Medicare will not pay for an extended stay at a nursing home, you must determine how to pay for this care. For many Medicaid is the best answer. This is especially true if adult children may have to spend their own savings to care for their elderly parents.
In order to determine whether you qualify for Medicaid, you should consult a knowledgeable attorney. Medicaid laws are extremely complicated and frequently change. Your attorney will conduct an analysis of your assets and essential documents in order to ensure that the Medicaid application is filled out correctly. The goal is to protect your assets in addition to qualifying for Medicaid.
Olivia K. Smith can help you accomplish this by structuring a detailed plan that will allow you and your family to live with peace of mind and dignity plus the possibility of passing on something to your loved ones. An explanation of the tools available to accomplish this will be explained when we meet. If you have questions about starting a Medicaid application in Ohio, call our office today at 513-771-2444 or email us to set up a consultation.
Losing most or all of your estate to the high financial burden of a long-term nursing home care should be addressed sooner rather than later for you and your family’s comfort financially and emotionally.