How will I pay for nursing home care?

Provide the best care for your loved one, and learn how to protect assets from long-term care expenses.

You want the best possible care for your loved one, but you can’t afford to spend the average cost of $110,000 per year on care. You have a home, savings account and a few investments – do you need to give that all up to provide the care your loved one needs? How can you avoid the nursing home taking your assets? An elder law attorney can help.

There are a few different ways you can pay for the cost of a nursing home:

  • Private pay – you are able to afford the approximately $110,000 per year in addition to your own cost of living.
  • Long-term care/nursing home insurance – you purchased insurance that will cover the cost (note: premiums are expensive for anyone over 60 years of age).
  • Medicare – will cover up to 100 days of nursing home care – not a solution for long-term care.
  • Medicaid – largest single source of payment, but Medicaid eligibility terms are complicated.

Assuming you are like the majority of others and need to pay for more than 100 days of nursing home care, can’t afford to pay privately and didn’t purchase long-term care insurance, Medicaid can help.

While Medicaid doesn’t take your home, car or personal possessions into account to qualify, those assets are at risk through Medicaid Estate Recovery after your loved one passes away. To protect your home, savings and investments, consider an asset protection trust.

There isn’t a cookie-cutter answer for how to qualify for Medicaid – that’s why we take time to listen and learn about your situation before recommending a plan of action to prepare for Medicaid eligibility. We’re here to put our specialized knowledge to work for you. There are 50 certified elder law attorneys in Pennsylvania. We have three of them.

 





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Thank you Matt and Karen. Your professional guidance was perfect! Your fast effectiveness helped me to get [my wife] into the nursing home. You also guarded our retirement funds. Great job! It’s hard to improve your team. You people improve each other.

-Ronald

Get a head start by reviewing the many resources we have available for you.

Finding a Nursing Home
Learn how to choose the right nursing home, get the best care and get help paying for it. Review all of your options so you can be prepared for long-term care.
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Three Ways to Protect your Assets from Nursing Home Costs
Nearly 70 percent of seniors will receive such help sometime during their old age—usually at home, but often in a nursing home. The costs are crushing, but there are three techniques that elder law attorneys use to help families protect themselves against the financial cost of long term care.
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You Need to Understand Medicaid If You Need Nursing Home Care
The Medicaid program is the largest single source of payment for nursing home costs. It can pay for most of the cost of your nursing home care. If you are facing a nursing home admission, you need to know about Medicaid.
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How an Asset Protection Trust Can Protect Your Home and Savings
The average cost of nursing home care is over $9000 per month. Are you prepared? Can a nursing home take your assets if you aren’t? The average family doesn’t have the resources to afford it. Having an Asset Protection Trust may help.
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How to Protect Your Home from Care Costs
We know you’re wondering – can a nursing home take my house? For many people, their home is their major and most precious asset. Unfortunately, without advance planning, your home may be at risk of being lost to the cost of long-term care.
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Does Medicare Pay for Nursing Home Care?
When it comes to paying for long-term care, the first thought many people have is that Medicare will pick up the tab for the cost of a nursing home. But does Medicare pay for nursing home care? The answer may surprise you.
Read More >

 

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