Elder Care: Planning for payment of nursing home costs

Source: The Sentinel

Nearly anyone who is a long-term care resident of a skilled nursing home can immediately apply for Medicaid to pay for the care.

To do so, an applicant who is not yet impoverished must shuffle assets according to a complex method that has been approved by federal courts. The reward for doing this can be a savings of around $100,000 per year in nursing home costs.

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