Baycrest Health Center

Nursing home expenses can be drastically different depending on what state you are in. Learn more information about the average costs for a month in a private room in a nursing home in each state.

There are a few different things you can do with your property to avoid having it seized by Medicaid. One option is to put your home into an irrevocable trust, which legally protects your property from Medicaid. You may also be able to protect your property by forming a life estate or gifting it to someone. However, there can be complicated tax ramifications to these actions, so it’s best to talk to a lawyer before doing so.

Getting your loved one into a nursing home can take time, particularly if you plan on using Medicaid to pay for their care. Medicaid approval can take several months, so it’s important to plan ahead when you can. Some nursing homes will accept ‘Medicaid pending’ patients, but others may require you to use another form of payment for admission until the Medicaid goes through.

If you qualify for Medicaid, they will pay the full cost of your nursing home expenses in most cases. However, if you do have any remaining income, you will be required to relinquish most of it. You will be allowed to keep a small portion of your income as an allowance for your daily needs.

Medicare does not cover the full cost of staying in a nursing home. Medicare does cover the first 100 days in any skilled nursing facility, but after that point you will need to rely on savings, long-term care insurance, Medicaid, or another solution to pay your nursing home expenses.