Paying for nursing home care can be expensive in our country. Few families can afford to pay for nursing home care for an extended time. It is a good idea to plan for this sort of thing in advance. The most desired facility may be out of the question because of cost, or the facility may be full and have a long waiting list. Some of you may already have experienced this fact. Nursing home care is costly, but it is not as expensive as a night in a good hotel, plus the “guest” is receiving food and nursing services.
Government health insurance programs can help pay for nursing home care; however, they have very specific requirements. Medicare only covers a very small part of nursing home care. It limits the amount of time and circumstances under which it pays for nursing home care. It pays only for care that it defines as “skilled” nursing care which is comparable to care received in a hospital. Federal guidelines for Medicare basically limit coverage to people who are recovering from an acute condition.
If you can afford it, long-term health insurance is a good bet. It will help you cover the costs of nursing care in a home, hospital, assisted-living and the like. There are many laws regulating the keeping of assets with regard to nursing home care and if you are interested in learning about these, which could save you a “bundle,” in the long-run, then contact me or other experts who can advise you on how to save your assets from the government and still be able to get the care you need.