Protecting Your Assets from Nursing Home Costs

Paying for Nursing Home Care

The Staggering Costs of Long-Term Care

One of the greatest fears of older Americans is ending up in a nursing home. Nearly one in two women and one in four men find themselves in nursing homes at some point in their lives, facing a tremendous financial burden.

Depending on location and level of care, nursing homes can cost over $200,000 a year.

Private Pay vs. Medicaid: Understanding Your Options

Most people pay for nursing home care out of their savings until they run out of money, then qualify for Medicaid benefits. Paying privately may give you access to better quality facilities and postpone dealing with government bureaucracy, but it's very expensive and can wipe out your life savings.

Medicare's Limited Coverage for Nursing Home Care

Medicare Part A covers up to 100 days of "skilled nursing" care per illness, but the conditions for obtaining this coverage are stringent. As a result, Medicare pays for only about 9 percent of nursing home care in the United States.

Navigating Medicaid Eligibility Rules in New York

Medicaid is the government insurance plan for long-term institutional care. To be eligible for Medicaid, you must qualify under the program's guidelines.

Medicaid is a joint federal-state program, with each state operating its own system within federal guidelines. This complicates matters, as Medicaid eligibility rules vary by state and change frequently.

In New York, the rules are complex but can be explained simply by our experienced attorneys.

Medicaid Eligibility Myths and Realities

You May Qualify for Medicaid Even with Significant Assets.

Many people believe that Medicaid is only for those with very limited resources. This common misconception can prevent individuals and families from exploring their options for long-term care coverage. However, the truth is that with proper planning and guidance, even those with significant assets can often qualify for Medicaid while preserving their wealth for the future.

At Rochester Elder Law (formerly Dutcher & Zatkowsky), our experienced attorneys have helped countless clients navigate the complex Medicaid eligibility rules in New York. In many cases, we've been able to assist clients who were previously told by other professionals that they had too many assets to qualify. Through strategic Medicaid planning, we can help you structure your assets in a way that allows you to receive the care you need without depleting your life savings.

Don't let misinformation about Medicaid keep you from getting the support and coverage you deserve. Contact Rochester Elder Law today to schedule a consultation and learn how we can help you protect your assets while securing the long-term care you need.

Rochester Elder Law Can Help Protect Your Assets

We can qualify you for Medicaid and apply on your behalf, which allows you to preserve your assets while you receive the care you need.

Medicaid Planning
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