Liquidating assets before nursing home
Sometimes people have a false sense of security about what their insurance will pay.It’s important to know right up front that Medicare will not pay for assisted living. There are a few other things you should investigate first.He even had looked into various nursing homes because there existed a real possibility that his wife may have to be put up in a nursing home, as she was showing early signs of Alzheimer's disease.
The cost of Assisted Living Facilities nationwide can vary from ,000 - ,000 per month.Donald Bloss and his wife, Mary Ann, figured they were all set for their golden years.Although they did not own a home, he had sufficient cash in the bank, several CDs and a host of blue chip stocks.You are often at the mercy of the person on the other end of the phone or other side of the desk. Some senior living communities offer a “financial concierge service” that can help guide you through the process of qualifying for benefits. However, if you cannot afford or cannot find a geriatric planner, with a little determination and perseverance you can achieve the same results.Depending on how they feel that day, how eager they are to get home, or how devoted they are to helping people often makes a difference in the information they share with you. Ask questions to see if there is any way you could qualify. Here are the most common ways people pay for Assisted Living. If you have a Long-Term Care insurance policy, it should cover assisted living as well.