There are legal ways to protect your hard-earned savings and property from having to be used to pay for nursing home or at-home care. With years of Medicaid experience, we have developed methods that may save your property and other assets from being depleted from nursing home costs. We understand the complexities of the system, and we are here to help you through the process.
The average annual cost for long-term care in a nursing home in Indiana can be as much as $79,000 or higher. At that rate, your family’s financial assets would be rapidly depleted. Medicaid can provide coverage for nursing home long-term care for qualifying seniors, but very strict guidelines govern the financial assets allowed for those applying for such assistance. This results in limitations in the nursing home patient’s financial assets. This means that your hard-earned savings and other assets will need to be liquidated, sometimes referred to as a spend-down.
Consulting with an elder care attorney, you can arrange protection for some of your assets, provide for your spouse and loved ones, and have financial assets to allow yourself more than just the minimum level of care and comfort provided by the nursing home or long-term care facility.
It is never too early or too late! Let us help you today!