Long-Term Care
Findings of a new report, the Genworth 2017 Cost of Care Survey, was just released by Genworth Financial. The findings: the median annual cost of a private room in a nursing home is $97,455 ($8,121/month); a semi-private room is $85,775 per year ($7,148/month); a home health aide costs about $49,000 per year ($4,099/month) and that…
Read More Findings of a new report, the Genworth 2017 Cost of Care Survey, was just released by Genworth Financial. The findings: the median annual cost of a private room in a nursing home is $97,455 ($8,121/month); a semi-private room is $85,775 per year ($7,148/month); a home health aide costs about $49,000 per year ($4,099/month) and…
Read More There is a new push to change Georgia’s laws so that Medicaid dollars could also be used to pay for assisted living facilities. The Coalition of Advocates for Georgia’s Elderly (CO-AGE) has finalized their 2018 advocacy priorities, and this topic was selected as one of their 3 legislative issues for 2018. We all know…
Read More Medicaid’s rules for eligibility are complex and there are so many misunderstandings. Families often mistakenly believe that adding more account holders to the Medicaid applicant’s bank account will reduce their assets. We often hear things like this, “Well, I added myself to Momma’s checking account last year, so won’t Medicaid look at only ½ of…
Read More Money, Death, and Medicaid—topics very few want to discuss. When it comes to planning ahead for retirement, long-term care needs or death, I have come to learn that few families ever approach these topics. Most of our families come to us in crisis – they have insufficient funds for retirement, no plan for their long-term…
Read More We often hear families talk about “Medicaid Nursing Homes” as if there are nursing homes in Georgia that are for residents relying on Medicaid. There is a fear behind this assumption that Medicaid beneficiaries are relegated to terrible nursing homes. Fortunately, this is a myth. Most nursing homes in Metro Atlanta are dual-certified for Medicare…
Read More To qualify for nursing home Medicaid, applicants must pass some fairly strict tests on the amount of assets they own. While the Medicaid rules themselves are complicated and tricky, it’s safe to say that a single person will qualify for Medicaid as long as he/she has only exempt assets plus a small amount of cash…
Read More I want to look at the case we mentioned last week again: Sarah applied for Medicaid on behalf of her father, Don. Don owned a home that he placed in an irrevocable trust in 2014. When he first moved to the nursing home, he had about $85,000 in his checking account and a few certificates…
Read More After our last blog post about qualifying for nursing home Medicaid while owning a home, we received numerous questions about just giving the house away. Several sons and daughters were advised to just sign a quitclaim deed transferring mom or dad’s house to them before moving them into a nursing home. They thought that just…
Read More Is it true that I have to sell mom’s home before she can get Medicaid? We just received this question yesterday…and the day before that… and a few times last week… There is so much confusion about Medicaid, especially when it comes to home ownership. A nursing home resident can own a home and still…
Read MoreSubscribe to our blog and monthly newsletter.
