Quote:
Originally Posted by suzzer99
Does Medicare pay some of that? My Dad's life savings would last about 3 months at that rate.
you can get medicare/caid to pay for it, definitely. it depends on the income level of the person going into the home and the community spouse. the community spouse is allowed to have 120k or so in assets(not including house and 1 car) and up to 4k a month from their own income source. anything other than that needs to be hidden away in non-liquid medicaid qualified income streams, like trusts and medacaid qualified annuities.
there are ways you can "spend down" to the amount that will qualify the person for medicare to pay for all of it. so like my mother could buy a bigger house and get down to 120k in liquid and get medicare to pay for my dads care.
in my parents situation it just didnt make sense since my dad has a good pension and social security still coming to him in the neighborhood of 5k or so combined a month, which in no situation can my mom keep if he goes to medicare.
so my mother is choosing to put him in a private pay place that is closer to her and that she has heard good things about and they dont have a medicare bed available right now anyway(i think the gov't requires every place to have a couple of medicare beds). so she's paying something like 1.5k a month or so out of pocket.
eta- disclaimer i am in no way an elder/medicare specialist, this is just me, a criminal attorney, trying to decipher medicare/caid rules in a state im not even licensed to practice in..