Archive for the Retirement Category

Planning ahead — Nursing Home care costs

Are you prepared?  You’ve been saving for retirement for years. But if you or your spouse end up in a nursing home, how long will your savings last with $6,000 a month in care costs?

What can you do?  Unfortunately, most people don’t realize Medicare will not pay for long-term nursing home care.  Additionally, the State has enacted laws making it difficult to qualify for Medicaid benefits if you have any assets in your name.

Be proactive.  Whether you or your loved one needs long-term nursing home care immediately or sometime in the future, there are things you can do today to protect your estate and avoid having financial problems become your legacy.

Protect assets.  Your assets are the only thing you have carry you through your retirement years.  Fortunately, if you plan carefully, there are things you can do to qualify for Medicaid and keep your assets protected while receiving benefits.

Learn how to plan.  Even if you are in crisis mode, and must go into a nursing home immediately, there are ways to save up to half of your assets while still qualifying for Medicaid benefits.