Millcreek Rehabilitation And Nursing, Llc

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.

Every state has state veterans’ homes, which are nursing homes that are subsidized by the state government and the VA. These homes are priced on a sliding scale depending on the veteran’s current income. The VA also offers stipends for long-term care costs. These stipends are often over $100 per day.

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.

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.

For many people, the high costs of a nursing home are far outside of their monthly budget. If you don’t have the money to pay for a nursing home, Medicaid will be the best option in most cases. Medicare requirements are determined by state governments and can differ based on where you live, but your income will need to be under a certain amount in order to qualify. In most cases, you will also be required to sell any property that you aren’t living in and sell any existing investments you have before you can qualify for Medicaid coverage.