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Well, today I started the process of looking for places for permanent assisted living care for both parents. Presuming that I can even find a place that will accept them both ( due to her health conditions), I'm extremely concerned about how I might afford to pay for this with going into bankruptcy (again) since this will be strictly private pay.
Since they don't have LTC insurance or any assets, has anyone out there come up with a creative way to afford something like this?
Try to contact a geriatric care manager - I am going to need to as well soon but in another state - from what I've heard, they can really guide families through the process and help find resources. I know these facilities are incredibly expensive AND you want a decent one -
What is your parents income? Is it enough to cover the monthly cost of assisted living? Generally, no ltc insurance and no assets = medicaid.
That's what I was thinking. They now have look back provisions for people who try to pass assets on to prevent people from handing over assets to their heirs in anticipation of the expenses. I believe this period is three years.
From my understanding there is quite a bit Medicare won't cover under these circumstances.
That's what I was thinking. They now have look back provisions for people who try to pass assets on to prevent people from handing over assets to their heirs in anticipation of the expenses. I believe this period is three years.
From my understanding there is quite a bit Medicare won't cover under these circumstances.
My understanding is that medicare doesn't pay for assisted living, except for a short duration after a hospitalization. Medicaid is the program that pays for long term assisted care.
What Bo said. Medicaid will kick in when they run through their money. There are some nice facilities that accept medicaid patients in the nursing home section I know. I was looking at Croasdaile in Durham for my folks at one point and they would have taken my dad straight into nursing (he would have been moving from another nursing home). I'm not sure what their policy is on Assisted, but it's a very nice place. I would have been happy to have my folks there, but my mom ended up at Carolina Meadows after my dad passed away. It was a little closer to my house and she had toured it before so felt a little more comfortable with it. They don't do Medicaid, though.
Do they have a home you can sell? We did that. None of my siblings or I were ever going to live in Fayetteville again.
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