Some homes might have to turn away residents covered through Medicaid because the operation simply can’t afford the low reimbursement rate in return. If a home accepts too many Medicaid residents, it’s at risk of closing permanently and not having the ability to serve its current Medicaid residents, Vander Meer said.
A version of that happened at a Marshfield assisted living facility in 2015. Stoney River Assisted Living told nearly 20 residents they could no longer live there because it couldn’t afford to accept the reimbursement rate from public assistance. Instead, Stoney River officials said they would shift to only private-pay clients, or people who can pay for their care without government subsidies.
Sunday, June 14 Green Bay Press Gazette
Medicaid is a welfare program you don’t want to end up on!
Assisted living facilities will not accept it, home care agencies avoid it as well. Only the welfare nursing homes have (had, apparently) to accept it and now even they are trying to avoid it.
Hiding your money to get on Medicaid might sound good while planning (it’s free from the government) until you find yourself driving between NO VACANCY signs. On the other hand, LTCi, chosen appropriately, and while still healthy enough to get it, can be less expensive than divestment. It will give you choices and the welcome mat will be out for you, no matter where you want care – home or facility.
You won’t have to sell assets (fire sales never produce high values), have your family agonize over what to sell first, and can leave your savings intact for your spouse and/or heirs.
Call me at (920) 884-3030 to schedule a visit or just ask questions.