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Old 09-07-2014, 10:32 PM
 
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I have some elderly relatives who unfortunately don't much $$ saved. Just wondering in general under the standard A or B or whatever plan how much of the costs for a nursing home or similar facility would be covered. Are the facilities that accept medicare decent?
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Old 09-07-2014, 11:02 PM
 
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Some limited, transitional care if they are being rehabilitated for some condition. Otherwise, zero.

Long term care is not covered by Medicare, rather by Medicaid.... and such coverage would vary by their state of residence and financial circumstance.
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Old 09-07-2014, 11:34 PM
 
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Quote:
Originally Posted by nytimes703 View Post
I have some elderly relatives who unfortunately don't much $$ saved. Just wondering in general under the standard A or B or whatever plan how much of the costs for a nursing home or similar facility would be covered. Are the facilities that accept medicare decent?
Long story short, Medicare doesn't cover what you seem to be looking for, i.e. care in a nursing home or similar facility.
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Old 09-08-2014, 02:13 AM
 
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next to nothing is what they cover in this case. they needed LONG TERM CARE INSURANCE. NOW THEY NEED A LAWYER if they have assets worth preserving legally.

Last edited by mathjak107; 09-08-2014 at 03:16 AM..
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Old 09-08-2014, 06:17 AM
 
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Medicare does pay for some nursing home care, hospice care, and hospital care. If the person is deemed to recover they pay. If the person needs pain control, they pay. Hospice care is usually 20 days. See the social worker at hospital and they will help you. But if they have minimal assets they can go on Medicaid.
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Old 09-08-2014, 09:16 AM
 
Location: Loudon, TN
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Unless they are transitioning from an acute care hospital to home, then none. And once they stop improving, or have no reasonable chance to recover, than they are out. If they are poor then Medicaid will cover but, again, only if they are coming out of acute care (I think, correct me if I'm wrong). The spouse can stay in the family home, but other than that they must have very few assets in order to qualify for Medicaid, and when the spouse living in the home passes away, the home will probably need to be used to repay the state for the costs.

Most people are unaware of this and think Medicare will cover nursing home costs when mom becomes gradually incapacitated. No such luck.
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Old 09-08-2014, 07:00 PM
 
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Quote:
Originally Posted by nytimes703 View Post
I have some elderly relatives who unfortunately don't much $$ saved. Just wondering in general under the standard A or B or whatever plan how much of the costs for a nursing home or similar facility would be covered. Are the facilities that accept medicare decent?
Medicare does not pay for nursing home - Medicaid does. And yes there are decent places out there.
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Old 09-08-2014, 08:03 PM
 
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Rule of thumb. Any assets other than a home if one of the spouses still would live there, can not exceed $2,000. But as MathJack pointed out there are some loopholes that can be made, but I don't think this would be true with any sizable asset. (unless such a move is more than five years out)
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Old 09-09-2014, 02:54 AM
 
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it is just as true with sizeable assets. the laws and court rulings apply to everyone. whether it is negotiating , keeping 1/2 the assets through loan manipulations or pooled trusts the laws are the laws regardless.

it is going to depend on your own state views and laws not the asset base. more and more states are taking the view that impoverishing its residents who are stay at home spouses is not the answer.

Last edited by mathjak107; 09-09-2014 at 03:49 AM..
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Old 09-09-2014, 08:12 AM
 
Location: Prosper
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In TX, medicare/medicaid paid virtually nothing for my grandmother's assisted living. She did have a Long Term Care policy though, and that ended up paying about $1500 a month (I think the total was $2000 a month.) Social Security paid for the rest, so she was able to keep her savings (100k) for the 15 years or so that she was in a home and was just slowly drawing it down. By the time she died she still had around 50k IIRC.
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