Crisis Planning
Hello & Welcome,
I'm
Chantal Banatty
President
Crisis Planning
What Does Medicaid Pay For Long-Term Care?
Medicaid Crisis Planning is a critical tool to help individuals and families protect their assets from the high cost of long-term care. It is a process that can help individuals and families secure Medicaid eligibility for nursing home care and other long-term care services.
Through Medicaid Crisis Planning, individuals and families can plan ahead to protect their assets and ensure access to quality care. This can include setting up trusts, transferring assets, and coordinating with legal professionals to create a plan that works for each family’s unique needs.
By taking advantage of Medicaid Crisis Planning, individuals and families can rest assured that their assets are protected and that they will have access to the care they need.
"A rule of thumb for the year 2021 is a single individual, 65 years or older, must have income less than $2,382 / month."
Government Funding -
51%: Percentage of long-term care services and supports that were provided through Medicaid, 2013.
20%: Percentage of long-term care services and supports that were provided through other public sources, 2013.
62%: Percentage of nursing home residents whose care is provided by Medicaid.
20%: Percentage of Medicaid funding that went to pay long-term care costs in 2016.
50%: Expected increase in Medicaid spending for long-term care between 2016 and 2026.
$123,600: Maximum amount of assets that a healthy spouse can retain for the other spouse to be eligible for long-term care benefits provided by Medicaid, 2018. (Actual amounts vary by state.)
$3,090: Maximum amount of monthly income that a healthy spouse can receive for the other spouse to be eligible for long-term care benefits provided by Medicaid, 2018. (Actual amounts vary by state.)
100: Days of care in a skilled nursing facility ("rehab") covered in full or in part by Medicare following a qualifying hospital stay.