Medicaid is the largest funding source for long-term care and pays for over half of the care in the USA. It is, however, a “means tested” program – the applicants must have limited assets and income in order to qualify.

Long-term care services may include medical, housekeeping, social, home health aide, rehabilitation and skilled nursing services a person needs over months or years.

Many believe they won’t need long-term care, that their spouse or their adult children will take care of them. However, national studies show otherwise. About 70% of individuals 65 or older will need long-term care – whether at home or in an assisted living facility or a nursing home.

Most elder folks have to pay out of pocket for their own long-term care. Unfortunately, the cost to pay for long-term care can easily wipe out an individual’s life savings. When in a nursing home setting, the cost of long-term care can be between $9,000 – $15,000 per month.

Medicaid planning is taking the necessary steps now to ensure that if the need for long-term care should arise, you will be eligible for Medicaid to pay for it and keep your assets safe from government reach.

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Put your family first and speak to us about your Medicaid planning options. Let us help you preserve your family’s legacy.

718.442.7004

Serving families in NY & NJ