Long Term Care in a Nursing Home
Long-term care expenses represent a significant financial risk for the elderly; 50% over 75 years of age face this risk. Most residents face an average stay of two years. Long-term care is extremely expensive! In Maryland, the average annual rate for a semi-private room was $122,275 in 2020 (this does not include ancillary supplies and prescription drugs). An average two-year stay (estimating a 4% inflation) will cost approximately $249,441 or greater. Few have this available in their savings.
Spouses cannot afford to support themselves and pay for the nursing home for their husband or wife. Luckily, the Medicaid law recognizes this, and there are numerous spousal impoverishment provisions that many are not aware of. Spouses cannot afford to go without help.
What are the options?
- Medicare coverage is limited to rehabilitation.
- The VA could provide some financial help, but rarely enough to cover the cost of long-term care.
- Limited resources prevent private paying for very long.
- Families can only help so much; providing care or funding is a drain on their own families.
- Only 10% have long-term care insurance.
- Qualify for Medicaid.
Medicaid Eligibility is far more complicated than most anticipate. There is no public education system that provides advice on how to qualify at the earliest time possible with the maximum savings of assets.
This is where The Law Office of Raymond E. Brown can help you and your family. We have been helping families secure the care they need and deserve since 2017. Call and schedule your initial consultation at no cost to you.
- Must be a U.S. citizen or a lawfully admitted Alien.
- Must be a Maryland Resident.
- Must meet a Medical Necessity assessment.
- Must be in a nursing home (that offers a Medicaid Bed) for 30 days.
- Must have income less than $2,349.00 per month.
- Must have Countable Resources less than $2,000.00.
- Must be free of all Post-DRA penalties for uncompensated transfers (Penalty Divisor is $213.71).