Will Medicaid Pay For Assisted Living ?
Usually, when it comes to assisted living, majority of the facilities in the US come under the Medicaid scheme. Hence, elderly with limited income or no income can use Medicaid to pay for assisted living. Medicaid is a state and federal run welfare scheme that pays for healthcare for people who fall in the low income bracket. Every state in the US has its own Medicaid scheme and hence, the eligibility criteria differ from one state to the next.
As longevity is increasing with better healthcare resources, there are some seniors who may not be eligible for Medicaid for assisted living. Such seniors may end up using their own personal savings. However, when the savings run out, they will automatically qualify for Medicaid, and can use that to pay for the assisted living facility.
When it comes to assisted living and Medicaid coverage, the long term care should be medically a necessity for the senior. If this happens, then Medicaid will cover the cost of assisted living for an indefinite period of time. In some states, the entire amount for assisted living is taken care of by Medicaid, while in others just a certain percentage. Hence, the senior should check with Department of Social Welfare as to what costs for assisted living would be covered in their state of residence.
Therefore, when looking for an assisted living facility, it is important that you find one that accepts Medicaid. Once you find a few facilities, find out which services are paid for by Medicaid and which are not. There could be a possibility that the senior may require a combination of services, those covered by Medicaid and those not covered. Hence, it is important to find a facility that allows you to stick to your monthly budget even if you are depending on Medicaid to pay for assisted living.
It has been seen that to become eligible for Medicaid, many seniors look to reduce their assets. However, it has been seen that when a senior has assets worth $2,000 excluding their car, personal belongings and house, they do not qualify for Medicaid. Hence, it is important to consult a good lawyer who can advice you on how to reduce your assets and also the advantages and disadvantages of this type of reduction.
Thereafter, it is important to find an assisted living facility that not only offers the services you are looking for, but is also affordable. This is primarily because if you do not qualify for Medicaid, you should still be able to pay for it.
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