All Rights Reserved 2017
Elder Law & Estate Planning Center
Brian T. Treacy, LLC
The Elder Law & Estate Planning Center (located in Bluffton , South Carolina) is a full service South Carolina Estate Planning Law Firm. Elder Law & Estate Planning focuses on fundamental estate planning, Elder Law, Veterans benefits, wills & trust planning, powers of attorney, Medicaid application & qualification, long-term care planning, probate & estate administration, Medicaid crisis planning, special needs & disability planning, Aid & Attendance qualification, charitable planning, estate tax planning, and asset protection. Elder Law & Estate Planning services families and individuals throughout Bluffton, Beaufort, Hilton Head, and Hardeeville, SC
Call Today: +1.843.757.5294
10 Pinckney Colony Road, #201, Bluffton SC, 29909
Does Medicare cover all of the nursing home bills?
When does Medicaid come in?
It's never too late to plan!
Many people are under the impression that Medicare will cover all of the expenses for nursing home care.
That is not the case. The most Medicare will cover is the first 100 days of rehabilitative services following a three-night hospital stay (and you must be “admitted” to the hospital, not just “under observation”). Even during the first 100 days, Medicare will not cover 100% of the bill, but will co-insure with your Medicare Supplement, if any.
We have also heard people ask if Medicare is only for the poor. Of course, it is not. Medicare is the default health insurance for people 65-years old and older. Eligibility is not income-dependent, nor is it means-tested.
For most people, Medicaid only becomes an option after Medicare benefits are exhausted. But what many people don’t realize is that Medicaid benefits are not automatic. In fact, to receive Medicaid, a patient and the patient's spouse (if married) must first "spend down" their "countable" assets. In Virginia, that limit is $2,000, but it gets a lot more complex for married couples. There are categories of assets that can be exempted with proper Medicaid “crisis” planning.
Copyright © Elder Law & Estate Planning Center, Brian T. Treacy, Esq.All Rights Reserved.