As a caregiver, there are options available to help you pay for your role in caring for your mom
or dad, with the most common source of payment being Medicaid.
There may come a time where one spouse needs to file for Medicaid long-term care, but the other spouse does not. In cases like these, it is crucial to understand the financial rules and limitations this situation presents.
In the later stages of life, it’s important to consider alternatives to nursing homes to find more affordable, comfortable living arrangements for you or your loved ones.
Long-term care Medicaid is the largest payer of long-term care, and it is used as a payment source for long-term care in a facility or at home.
Medicare and long term care Medicaid are two very different programs that cover different things. Let’s review what each program covers and does not when it comes to nursing home costs.
Can gifts be made to family members each year within the IRS guidelines without affecting the five-year look-back period for Medicaid if mom or dad eventually needs to be placed in a nursing home?
It is a common misconception that the IRS gift exemption extends to Medicaid rules. It does not.
The Medicaid look-back period starts on the date the Medicaid application is submitted and extends 60 months (30 months for Medi-Cal) back from that date.
Determine the best long-term care options for your elderly loved ones by knowing what’s the difference between nursing home and assisted living facilities.