Long-term care can cost at least $4,300 a month in an assisted living facility. For nursing home care, the national median is about $7,756 a month for a semi-private room.
Unfortunately, many Americans cannot afford these services out-of-pocket. Long-term care insurance is a possible option, but most retirees do not have coverage. This is why government assistance is often the most feasible path.
When planning your future, long-term care should be a priority. Fortunately, Medicaid offers several programs to help you get the care you need, even with limited income.
Financial assistance for nursing home care
The Nursing Home Medicaid program offers financial support for individuals needing full-time care in a nursing facility. This benefit is usually reserved for those requiring the highest level of assistance, which is why you must require a Nursing Facility Level of Care (NFLOC).
Meeting the NFLOC requirement means you need the level of care that only a nursing home can provide. The Nursing Home Medicaid program typically covers:
- Room and board
- Healthcare services
- Personal care
- Assistance with Activities of Daily Living (ADLs)
Note that coverage is only available at Medicaid-certified nursing facilities. If you think you will need this benefit in the future, consider canvassing certified nursing homes in advance.
Waivers for long-term care services
If you plan to stay home or in a community designed for seniors, you may be eligible for Home and Community-Based Services (HCBS) waivers. These waivers cover services like:
- Personal care
- Food delivery
- Transportation
- Home modifications
Aside from your own home, you may receive these waivers if you stay in an adult day care center, assisted living facility or a group home.
Support for the aged, blind or disabled
The Aged, Blind and Disabled (ADB) Medicaid is available to people 65 and older, blind and/or have a disability.
This program can assist you with medical expenses, such as hospital stays, doctor visits, prescription medication and long-term care services. Medicare and Medicaid can also work together to provide the level of care you need.
How can you qualify for these programs?
Aside from medical requirements, Medicaid programs have income and asset limits. If you earn or own more than the limit, you may lose eligibility.
Fortunately, there are ways to qualify without sacrificing your assets, such as establishing a special needs trust or using a spend down program.
In any case, you may want to consult an attorney who can guide you through the process. Aside from exploring your options, they can also help ensure you retain eligibility for these programs.
