Several years ago, after I had concluded an elder law presentation, an attorney in attendance approached me and recounted a conversation he had with the Director of Social Services for the nursing home where his mother was admitted (he was also a member of the Board of Directors for said nursing home). The Director explained to him that because his mother (a widow) had $500,000 in non IRA/retirement savings, she needed to pay the nursing home privately ("spend down") until she had no more than $14,000 in savings. He was further advised that only then would his mother be eligible for Medicaid. The attorney also told me that his mother had already expended $150,000 of the $500,000 on her care at the nursing home.
What is Medicaid?
You may be the kind of person who is always on top of things. Let's say you are good at planning. Even so, you worry about your child. Having a child with special needs can be difficult, and planning for his or her feature can be overwhelming.
Applying for Medicaid nursing home or home care is an extremely complex process - one with potential complications not often evident at first glance. The rules and regulations relevant to Medicaid eligibility also change frequently and vary by state. Securing the services of a seasoned elder law attorney is imperative to ensure the most favorable outcome.