Some people choose to believe that Medicaid will pay. They do not want to find
out differently, to find out the facts. The fact is that we all pay, somehow.
We can pay by:
- Doing without
- Consume countable assets as long as they last to comply with "Medicaid Spenddown"
- Have a rapidly rising Federal deficit
- Pay more in taxes because of rising Medicaid expenditures (isn't it "funny" that most of us
would never, ever put Mom or Gramps on welfare, but we would have them qualify for Medicaid
in the blink of an eye!)
- Step up to the plate, spend $50,000 or $60,000 or $70,000 per year--per person--
and count it as the cost of living
- Plan ahead, shifting most of the cost and risk to an insurance company
So, what is the answer? How do you provide for long term care/home health care,
and control your costs? What do you need to do in order to be able to stay at home?
To stay at home where your life has been (click for presentation), and where
your heart is?
Some people think they have adequate savings to cover these costs. Perhaps they
have investment assets of $250,000, $500,000 or more. What many don't realize
is just how expensive ongoing care is, especially care at home. Depending on the
extent and duration of help needed, these amounts and more may be entirely exhausted.
This problem becomes more pressing if both spouses need long term care. Then,
when the savings are gone, Medicaid will come to the "rescue".
However, when your ability to pay goes, so does your freedom of choice--many people
actually qualify for food stamps before they "spend down" enough to qualify for Medicaid!
The practical likelihood of staying at home (as long as you might, if only you
could pay), is over.
Just remember--professional and caring help is only a click away!
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