Frequently Asked Questions

Medicare covers certain “skilled” nursing services and in-home care costs for a limited period of time and only under certain circumstances. After that, Medicare does not provide coverage for long term care costs. 

Medicaid is the largest payer of nursing home bills in the U.S., effectively serving as long-term care insurance for the middle class. With nursing facility costs averaging $168,000 annually and rising, many families quickly exhaust their savings. Over 68% of nursing care recipients depend on Medicaid for long-term care expenses.

1. Undergo a medical assessment to determine if you meet the minimum care level, typically requiring regular help with daily living activities. Needing skilled nursing care automatically qualifies you in all states.
2. Meet the financial eligibility criteria.
3. Be a resident of the state where you are applying.
4. Have a valid Social Security number.
5. Be a U.S. citizen.

While Medicaid has strict guidelines, you can retain assets and still qualify. For couples, the eligibility criteria differ: up to $157,920 in assets can be retained, with home equity limits of $730,000 in PA, DE & MD, and $1,097,000 in NJ for non-married recipients. Spouses may also keep certain resources and income through exemptions. However, mistakes in resource spending can cause significant financial loss and leave the community spouse without adequate support.

Single applicants also have options, but understanding Medicaid resource rules is essential. Errors can result in ineligibility. Consult our Medicaid Eligibility Advisors to review your financial situation.

Nearly 50% of Americans over the age of 65 will require some form of long-term care. Medicare does not pay for this expense.             

Are you prepared to pay over $120,000 per year for this care? 

By working with a company who is knowledgeable and trained in Medicaid and asset preservation, you may be able to pay for care and still leave a financial gift to your family. 

While Medicaid planning can begin anytime, even if they are already in a long term care facility, the earlier you plan the better. The earlier you start the process, the more options you have to protect assets. 

The Medicaid application is complex and time-consuming, with serious risks if handled incorrectly. Along with completing the application, you must submit detailed financial records, including a 5-year history, closed accounts, and transactions over $500. Understanding Medicaid’s document rules is essential. Without professional assistance, the process can take months, and mistakes may result in delays, denials, or ineligibility, putting you and your loved ones at risk. Let an expert guide you through it for a smoother, quicker approval.