Medicaid
Who is Going to Pay for Your Funeral?
Asking who is going to pay for your funeral might seem like a silly question–you probably have money in savings, a vehicle, a house, even life insurance. There should be plenty of money to pay this bill, right?
The problem is, you are gone, so now who has access to your assets?
… Read more...Observations from a Recent Hospital Stay
Recently, I was an inpatient in a hospital after having surgery. While there, I visited with a number of nurses and CNAs (certified nursing assistants) while they were caring for me. Nearly every one of the CNAs had started their careers in a long-term care (LTC) facility.… Read more...
A Different Need for Long Term Care Insurance
People used to purchase this insurance to prevent them from spending all their hard earned nest egg paying for Long Term Care (LTC). That is still a reason but there is a much more urgent reason to have this insurance when it comes to Medicaid.
… Read more...What is wrong with Medicaid?
Why is Medicaid a terrible thing if you need long-term care?
Long-term care used to be a simple thing. We got older and needed some help, our children took care of us. Remember Ozzie and Harriet? She had the time and the space to have parents move in. … Read more...
Who Will Accept You For Care When You Need It?
Westchester Plaza, the largest assisted living facility in Texas that will accept Medicaid residents is closing their doors. The problem is that Medicaid pays less than the cost to care for you. If too many of the residents end up on Medicaid, they cannot afford to keep the doors open.… Read more...
You’re Probably Going to Need Medicaid
The Opinion Pages | The New York Times
OP-ED CONTRIBUTORS
By DAVID GRABOWSKI, JONATHAN GRUBER and VINCENT MOR
Imagine your mother needs to move into a nursing home. It’s going to cost her almost $100,000 a year. Very few people have private insurance to cover this.
… Read more...Medicare & Medicaid, What’s The Difference?
I was asked this question at a seminar recently, and thought a good definition of each might be of value. Medicare is health insurance at age 65. To qualify you must have paid income and Social Security taxes for at least 40 quarters (10 years). … Read more...
Coming Political Changes Affecting Long Term Care
Yes changes are coming. The federal government is very interested in moving programs back to states to handle and Medicaid is one of those.
The way this most likely would happen is to “block grant” Medicaid to the states. Give each state a fixed sum of money each year for Medicaid and let each state set their plans and rules themselves.… Read more...
Are You Assuming Medicaid Will Cover Your Long-Term Care?
Many people plan on Medicaid covering their Long-Term Care (LTC) costs. Medicaid is the fallback for people who do not have enough money to pay for this care. It is a payer of last resort and pays the caregivers less than the cost to provide that care for you.… Read more...
WHO Will Pay For Your Funeral?
It won’t be your life insurance, that often takes weeks before the money comes. It won’t be your money as that is frozen at death and all Powers of Attorney (POA’s) are instantly null and void at death as well.
Often a family member is called up on to pay those bills (they will be reimbursed later).… Read more...