What Is Nursing Home Asset Protection?

If you are going to qualify for Medicare, you may wonder why nursing home asset protection should be on your radar. Perhaps it is natural to assume that Medicare will take care of all of your health care needs during your senior years, but in fact, Medicare does not pay for long-term care. Help with your activities of daily living is considered to be custodial care. Medicare will pay for up to 100 days of convalescent care after surgery, but it will not pay for living assistance. Long-term care is very expensive, and most people will eventually need it, so this is a big issue within the elder law community. When you implement nursing home asset protection strategies, you endeavor to keep resources in your family in light of the potential impact of long-term care expenses. Medicaid Planning For most, a nursing home asset protection plan will revolve around Medicaid eligibility. Though Medicare will not pay for living assistance, Medicaid will pick up the tab if you can qualify. Most pe
http://www.myestateplan.com/nursing-home-asset-protection/

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