Medicaid rules vary by state. In most states it only pays for LTC, which must be medically assessed as necessary by a doctor. Then, the person must also qualify financially. In most states, the financial "look back" period on the application is 5 years. In some states it is 2.5. It is very easy to innocently mismanage a person's afffairs in such a way as to delay or disqualify then from this benefit. Therefore, I strongly recommend you consult with a Medicaid Planner for this person's home state. The app can be filled out by anyone, and it takes about 3 months to know if one has qualified or not. More info from you would be helpful.
Money for what? You asked this question under financial planning. I am requesting that the admins move the question to our questions thread, and reporting my own answer to do so.
We need more information. What is your current situation. Are you out of money enough to cover your own living expenses month to month, or the care you need? What are your resources and savings versus your costs of living.
Sorry to go all "Dave Ramsey" on you; we just need more information. And welcome to Forum, Hal.
If you run out of money, then apply for Medicaid and look for a Medicaid approved facility.
Call Council on Aging to get a needs assessment and ask them for recommendations for your particular situation.
You can also contact a social worker to find answers.
Best wishes to you.
We need more information. What is your current situation. Are you out of money enough to cover your own living expenses month to month, or the care you need? What are your resources and savings versus your costs of living.
Sorry to go all "Dave Ramsey" on you; we just need more information. And welcome to Forum, Hal.