Medicaid and nursing home payments - where may I learn more of the rules?
July 6th, 2009 | by nursing |
BillF asked:
Preparing for elderly family members, we want to better understand the “rules of the game”. We understand that Medicaid does not consider cars as assets, nor do they consider prepaid funeral expenses. Is there a recommended source, with current rules, that describes how to manage the transition from having health to living in a nursing home with Medicaid footing the bill.
This is such a big transition for the family, we want to stay legal, but want to understand our options.
Are financial analysts trained in this aspect of finance?
nursing course
Preparing for elderly family members, we want to better understand the “rules of the game”. We understand that Medicaid does not consider cars as assets, nor do they consider prepaid funeral expenses. Is there a recommended source, with current rules, that describes how to manage the transition from having health to living in a nursing home with Medicaid footing the bill.
This is such a big transition for the family, we want to stay legal, but want to understand our options.
Are financial analysts trained in this aspect of finance?
nursing course
3 Responses to “Medicaid and nursing home payments - where may I learn more of the rules?”
By Ronda B on Jul 8, 2009 | Reply
nursing online
You need to understand Medicare and how it works with Medicaid. You can go to It will help you in some aspects. Medicaid will work with Medicare. It basicly will pay what Medicare won’t pay. Living in a state funded nursing home is not a good way to live. People usually don’t live very long after they enter a nursing home. Do they have a retirement fund or pension or any kind? If they are in a home they will also have to sign over their social security check to the state.
By Sharon T on Jul 9, 2009 | Reply
nursing pictures
There are definitely attorneys and planners that specialize in this field. Look in the yellow pages.
If the older folks have assets, think twice before hiding them or transferring them to someone else. That is asking the taxpayers of America to support your relatives. Is that fair?
Medicaid should be for folks who truly have no other resources, not those whose children and grandchildren would rather take their inheritances up front.
By tkahrs12122 on Jul 11, 2009 | Reply
nursing central
When an elderly person enters a nursing home they pay their own way.The outlay varies, suppose the cost is 3k a month. The elder pays this out of pocket till all their assets are gone. Only allowed to keep enough for funeral expenses. Once the money is gone, medicare and medicaid kick in. Plus the nursing home gets the social security check. Any extras not covered such as dental, glasses, phone bill must be paid by family members. Not so great a reward in ones old age. Medicare will research elders assets back 5 years to make sure nothing was transferred to children just to beat the system