Nursing home finances

The average cost of a private room in a nursing home now tops $75,000 a year, so how can you finance nursing home care? Medicare, Medicaid or Veteran’s Assistance may pay some of the cost, but many families find themselves struggling to find nursing home funding. Here is some advice to help you help you determine the best way to finance nursing home care:

Articles About Nursing Home Finances

Younger Seniors & Older Elderly: How Nursing Homes are Adjusting
More and more generations are living with one another in nursing homes. There's a culture clash happening in nursing homes: younger seniors (60s) and older residents (80s). Here is the issue that nursing homes face with residents of different ages.

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Q&A with the Experts on Nursing Home Finances

Medicaid is paying for mom's nursing home. Can I rent out her house?
Yes, you can rent the home while your parents are in a nursing home and on Medicaid.
Is a reverse mortgage a good idea for my parents?
For some homeowners, a reverse mortgage may be the best way to provide income or pay off debts. However, senior homeowners do have other alternatives, which may make more sense than a reverse mortgage. Read Jon Beyrer's full answer.
Am I responsible for my parent's debt?
Do caregivers have to pay for their elderly mom and dad's medical bills?

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