When you or someone you love requires nursing care, the sudden responsibility to cover the costs can be distressing.

So what are your options?

PAY OUT OF POCKET.

Nursing home care costs an average of $12,500 PER MONTH in the Hudson Valley. Some local homes are closer to $15,000, and even as high as $28,000! Paying out of pocket could risk your entire life savings and your home.

USE LONG-TERM CARE INSURANCE.

Regular health insurance plans do not cover long-term care.

Supplemental long-term care insurance, depending on the policy, can help, but may not cover enough of the cost. If you don’t already have a policy in place when the need for nursing care arises, you won’t be able to get a policy.

USE MEDICARE.

Medicare does not cover long-term care or an extended stay in a nursing home. It only covers 100 days or less in a nursing home.

USE MEDICAID.

Medicaid, a combined state and federal insurance program, does cover nursing homes and some other long-term care costs, but you must qualify to benefit from its coverage.

If you own a home or have savings, investments, or other assets totaling more than $15,750, you have two options when pursuing Medicaid coverage:

• Give ALL the excess money to the nursing home and allow the county to place a lien on your home OR
• PROTECT YOUR ASSETS with the help of Blustein, Shapiro, Frank & Barone, LLP’s experienced Crisis Medicaid Planning team.

CRISIS MEDICAID PLANNING ATTORNEYS

It’s never too late for Medicaid Planning!

The best approach to maximize Medicaid benefits is to plan ahead. However, there are still many techniques that can be applied to qualify for Medicaid quickly WITHOUT losing your hard-earned assets.

The Estate Planning team at Blustein, Shapiro, Frank & Barone, LLP has helped many families save hundreds of thousands of dollars that would otherwise have been spent on a nursing home.

Our careful solutions are based on in-depth and up-to-date knowledge of Medicaid eligibility rules and an organized team process developed over more than a decade of practice dedicated to attending to the needs of seniors and their families in these urgent situations.

Contact the Estate Planning team at Blustein, Shapiro, Frank & Barone, LLP today!