Until you have an older family member who is in need of long-term care you may never think much about the subject. Far too many people go through life assuming that Medicare takes care of everything for you when you are a senior citizen who needs any type of medical assistance.
In truth Medicare doesn’t pay for long-term nursing home care. Simply getting out your checkbook is certainly an option, but if you go this route you may watch your balance plummet precipitously.
The average annual expense for a private room in a nursing home in the United States last year was over $90,000, and people often spend multiple years receiving care.
When you understand the facts you invariably become concerned.
Many individuals look toward Medicaid for a solution. This program will pay for long-term care, and in fact you may be surprised to hear that the majority of seniors in nursing homes are enrolled in the Medicaid program.
To be able to qualify you must stay within certain upper asset limits. It can be challenging to do what it takes to qualify for the program while still retaining a maximum store of assets for the benefit of your spouse and the other loved ones that you will be leaving behind.
We have prepared a special report on Medicaid planning. It will provide you with a good understanding of the program and what it takes to qualify.
To obtain your copy of this free report please click the following link and fill in the form that you see to the right: Medicaid Planning Report
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Ryan M. Denman and Dennis D. Duffy
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