“My mom is being discharged from rehab next week to a nursing home and it will cost $10,000 per month! What can we do to protect her assets so she doesn’t go broke?” This is an issue we deal with daily in our office. How can we help?
The first step is proper placement. Often, clients need assistance in knowing the options available for placement. Our staff can help answer questions such as: What is the between an assisted living facility and a nursing home? How much does each cost? Do they accept Medicaid and, if so, do they have Medicaid beds available?
Next, it is important to understand the concepts of Michigan Nursing Home Medicaid. Michigan Nursing Home Medicaid is health care program for persons who are financially eligible. Medicaid provides care for acute medical needs, rehabilitation, and long-term care in skilled nursing facilities. Medicaid has an asset limit allowing an individual to own only have $2,000 in countable assets. It is important for us to educate the family about “countable assets” vs. “exempt assets.” There are protections for a spouse’s income and assets.
Our staff will review options with the family to utilize existing Medicaid rules to protect and preserve assets, rather than simply “spending down” to the standard asset limitations.
If you have a loved one in a nursing home and are concerned about them running out of money, please contact our office.