WELCOME TO OUR LONG TERM CARE ASSET PROTECTION CLASS. Presented by ESTATE PLANNING & ELDER LAW SERVICES, P.C. WHY SHOULD I CARE ABOUT LONG TERM CARE?. Persons aged 65 to 69 years face a 1 in 2 risk of entering a nursing home. 1 1 House Select Committee on Aging.
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ESTATE PLANNING & ELDER LAW SERVICES, P.C.
Persons aged 65 to 69 years face a 1 in 2 risk of entering a nursing home.1
1House Select Committee on Aging
WHAT DOES LONG TERM CARE COST?
If discharged from a hospital, Medicare only covers “skilled” nursing care costs for up to 100 days, so long as skilled care is required
AREN’T NURSING HOME COSTS PAID BY MEDICARE OR MEDICAL INSURANCE?
EVALUATING LONG TERM CARE INSURANCE
In most cases, by planning ahead, you can shield a substantial percentage of your assets from the cost of long term care.
WITHOUT LTC INSURANCE CAN I PROTECT MY ASSETS FROM LTC COSTS?
Medicaid is a Federal Program established by the Social Security Act.
WHAT IS MEDICAID?
The rules for Medicaid eligibility differ somewhat depending upon whether the applicant is single or married.
MEDICAID ELIGIBILITY RULES
ELIGIBILITY RULES JUST CHANGED!
If an applicant meets the income eligibility rules for Medicaid, asset eligibility can often be achieved by:
BECOMING MEDICAID ASSET ELIGIBLE