Myths About Medicaid and Long-Term Care

There are a lot of misconceptions about long-term care and insurance coverage that will pay for this type of care. All too often, individuals believe that they have sufficient coverage to pay for long-term care when needed later in life. The fact is that most people don’t have enough insurance coverage for long-term care expenses, and it can be quite a shock when the need for long-term care arises. In this blog post, we want to inform you about some common myths related to Medicaid and long-term care, so that you can the appropriate coverage in place if long-term care becomes necessary.

First, most people think that their health insurance plans, Medicare, Medicaid, or a combination of the three is more than enough to pay for long-term care. The reality is that your health insurance plan will not provide you with coverage for any expenses related to long-term care, unless you have purchased a separate policy that specifically provides for long-term care. Likewise, Medicare does not pay for long-term care. Medicare will pay for short stays in nursing homes when you need skilled nursing care for up to 100 days, and also will be pay for time spent in a nursing home recuperating from a hospitalization, surgery, or injury. Once you no longer need skilled nursing care, Medicare usually will not pay for a lower level of assistance, such as in-home or personal care.

While Medicaid does cover the costs of long-term care, the eligibility requirements for Medicaid are very strict. Coverage under the Medicaid program is limited to individuals with very low income and few assets. Without careful financial planning aimed at Medicaid eligibility, many people will not qualify for Medicaid until all of their other financial resources are exhausted by long-term care expenses.

Many individuals also assume that long-term care is something that you don’t need to worry about until you are retired and elderly. The fact is that you may experience a need for long-term care, either temporarily or permanently, at any point in your life. You could be severely injured in a car accident, contract a disease that leaves you incapacitated, or suffer a stroke. All of these incidents may lead to the need for long-term care at a much younger age than expecte

The long-term care attorneys of Legacy Law Center pride themselves on successfully guiding clients through the long-term care planning process, as well through any other related matters that may arise. We have the knowledge and resources to help you make the decisions that are best for you and your family. Don’t hesitate to call our Ann Arbor office today and learn how we can assist you.