We have some great videos on Medicaid, Powers of Attorney, Estate Planning and other elder law issues on our YouTube channel. Sometimes it is just easier to watch something. Check two of them out below.
Medicaid, Nursing Homes & Asset Protection
Sean W. Scott provides a summary of Medicaid qualification requirements, asset protection and nursing home costs.
Video Transcript & Links
The primary focus of this video is the issue of long-term care. As we age we may not be able to provide for ourselves like we used to, however, at some point in time we may not be able to do that and those things that were once taken for granted now become challenges and issues that need to be dealt with from some other outside source.
Often times we turn to family in order to get those needs met but at some point our needs exceed their abilities and at that point in time we’re looking for a different provider for that care and that typically results in an assisted living facility or nursing home.
One of the big problems however, is the cost of that care is anywhere between $6,000 to $7,000 per month. So we need to have some sort of plan in place in order to deal with that cost. Whether that time is today or tomorrow depends a lot on who you are what your situation is.
Fixing this problem deals with accessing resources to help pay for the cost of that care. The program that we deal with in our office primarily is a program called Medicaid. Medicaid will pay for the cost of long-term care in a nursing home and sometimes an assisted living facility.
However, in order to become eligible for that program you have to meet certain tests or eligibility requirements. Medicaid sets out three broad eligibility requirements:
- Must be over 65 years of age unless you are considered otherwise disabled.
- Are you sick enough?
- Financial needs:
Please click the links below for more information and further reading:
Planning for Alzheimer’s
I have seen thousands and thousands of families go through this horrible disease. We recently produced a day-long conference to help caregivers. The first video of the 10 part ALZ Talk series.
Video Transcript Coming Soon!
Right now we are in the process of transcribing this video. Please check back soon and we’ll have the full transcription available.