The average nursing home costs today anywhere from $3,500 to $6,500 per month! Clients are seeing that their money does not last very long and a lifetime of savings can be depleted quickly, when they or their spouse suddenly has to go in to an Assisted Living or Nursing Home Facility. Medicaid Planning has come about as a response to our clients’ frustration with Nursing Home costs and a lack of answers from their Nursing Home when questions are asked.
The two biggest mistakes that people make in Nursing Home planning are disbelief and lack of planning. First, most people believe that they will never have to go into a nursing home, and therefore, do not plan for it. Because of this lack of planning, they watch as Medicare quits paying and then find out the nursing home is looking for them to pay $3,500 to $6,500 per month out of pocket.
Instead, the best planning one can do is to plan before anyone has to go into the Nursing Home. The best advice is to meet with a professional in this area of Medicaid Planning (Always an Elder Law Attorney). With their help, you are able to see what you can do now to insure that you are able to protect you and your loved ones from losing everything that you have worked so hard to save.
At Delco, we help our clients connect with the right professionals that specialize in the specific and highly complex area of Medicaid Planning.
*Summit Brokerage is not associated with Medicaid Planning. All legal services and Medicaid Plans are provided through licensed attorneys.