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I’m concerned how anyone can ever afford to place a loved one in a nursing home. I know there is Medicaid, but doesn’t that take a long time to get approved? My loved one doesn’t have a house, but she has a 401K, her deceased husband’s pension, and social security. If these places are upwards of $11,000/month for a double occupancy room (as I’ve been told) her money won’t last long at all. How do people navigate the cost?

You can hire a geriatric advocate in your area who will educate you on spendown and medicaid application. Some LTCs are better than others and the advocate can help. Best to do this before complete spendown. Go to Aginglifecare.com to find one
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Reply to MACinCT
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They plan, scrimp and save all their lives for eldercare. If they didn't, then it's Medicaid, which is provided by the taxpayers (i.e., you and me).

Where I live, it isn't necessarily $11,000 a month for a double room. Also, the cost depends on the level of care needed. Time to shop around and gather your own info rather than depend on hearsay. A lot of hearsay has proven to be wrong!
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Reply to Fawnby
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My best advice is to consult with an eldercare attorney that is well versed with your loved ones State Medicaid regulations and has the knowledge on how to protect their assets within the guidelines. Planning is essential for your loved one to be able to be well cared for as they age. The cost of an attorney is an allowable expense in terms of Medicaid spend down that will need to be done in order for them to apply.

The task is daunting but with an attorney you can be assured that Medicaid application is correct and all the information is in the format that is necessary for approval. The process is up to the the POA to accomplish so there will be a lot of work on their end. But the stress is lessened because the application with be completed by the attorney (or someone in the firm) and it is lengthy and at times confusing if you have never completed one before.

While it does take 3 - 6 months for Medicaid to be approved, the patients account is considered pending. When in the pending phase the patient will need pay all monthly income they receive (less the personal fund balance) to the nursing home. And, during this phase you will not pay any other self pay portion of the balance. For example, if the total income is $5,000 and the Self pay invoice is $11,000 the balance of $6,000 will not be required to be paid by the patient until Medicaid is approved and the final monthly NAMI Medicaid payment by patient is determined.

The personal fund allowance is paid (usually by separate check or auto payment from personal bank account) to fund misc. expenses for the patient. The PAF is managed by the nursing home and the patient can use those funds for haircuts, men's shaves, clothing and personal convenience items.
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Reply to AMZebbC
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