Managing a Medicaid Crisis Situation
In the District of Columbia, the median annual cost of a semi-private room in a nursing home was more than $109,000 in 2018, while the cost of a private room exceeded $116,000. Depending on the nursing home in question, and the level of care required, costs can be considerably higher. To make matters worse, nearly 70 percent of us over the age of 65 will require long-term care at some point in our lives and 20 percent of us will need long-term care for five years or more.
All of this helps explain why so many families exhaust their life savings within a few years of a family member entering a nursing home, and why more than half of all nursing home stays are now funded by Medicaid.
The Challenge of a Medicaid Crisis in Nursing Home Care
A Medicaid Crisis is a situation where a person has already moved to a nursing home, or must enter one very soon, and has been informed that he or she owns too many assets to qualify for assistance from Medicaid to pay for it. Given the high cost of nursing home care, this situation is indeed a financial crisis for all but the wealthiest families.
If you or a loved one is facing a Medicaid Crisis, do not despair! Much of the information about Medicaid eligibility provided by friends, relatives, nursing home staff, social workers, caregivers, and many others is outdated, inaccurate, or just plain wrong. A qualified elder law attorney can help you obtain assistance from Medicaid if you must enter a nursing home next month, next week, or tomorrow.
In fact, it’s possible to get Medicaid assistance even if you are already in a nursing home. And if you have applied for Medicaid assistance in the past but you have been rejected, it is entirely possible that a qualified elder law attorney can still obtain the financial assistance you need.
You’ve worked too hard to lose your life savings to the nursing home. Don’t let misinformation or unexpected life changes prevent you from getting the financial assistance you need and deserve.
An Elder Law Attorney Can Help Protect Your Life Savings
If you have a loved one entering a nursing home, it’s time to consider the benefits of a properly designed estate plan created by an attorney with experience in elder law care. It’s important to protect your life savings against the rising cost of long-term care.
The estate planning attorney servicing the DC and Maryland area at the Law Offices of Clifford M. Cohen has more than 35 years of experience and is passionate about helping families ensure they’re prepared to cope with the expenses linked with aging. If you’d like to speak with us today, call our offices at (202) 895-2799 for a free consultation.
