Most people just spend their money on nursing home care until they are broke. To receive aid from Medicaid to help pay for nursing home expenses, a single person MUST spend down their “countable” assets to roughly $2,000.
That means if you have money in an IRA, 401(k), annuity, CDs, brokerage accounts, etc. that money will have to be spent in order to receive aid.
It doesn’t have to be that way. With a solid Medicaid Protection Plan, we can help you find legal ways to keep more of your assets. Medicaid can also pay for home care and in some states even assisted living. You can not only avoid spending all your money on nursing home care, but we may even be able to help you get Medicaid coverage for your home care to keep your quality of life high.
To learn more about the problems that await those who are unprepared to pay for their nursing home and other assisted living expenses, please watch the following educational video.