Medicaid is one of the most common ways to pay for a nursing home when you have no money available. The upper end 49k 90k offer both non medical and medical care services.
Nursing care costs upward of 6000 a month and assistive living about half of that.
How to get into a nursing home with no money. Some franchisors will finance a portion of this. If the person has no assets to sell and has a low enough monthly income they can apply for medicaid which will cover the care with the person s social security going minus 30 going to the facility. Medicaid is one of the most common ways to pay for a nursing home when you have no money available.
Even if you have had too much money to qualify for medicaid in the past you may find that you are eligible for medicaid nursing home care because the income limits are higher for this purpose. Most nursing home care service franchises run the midpoint at 35 000 to 48 000. So if you go into a nursing home you will need to find some way to pay for the cost of your care.
8 steps to getting a senior admitted to a nursing home. Following is a brief overview of how to get a senior admitted to a nursing home simplified into 8 easy to follow steps. Medicaid was created in 1965 as a social healthcare program to help people with low incomes receive medical attention.
Medicare will pay for nursing home care 80 of the cost for up to 100 days. In pennsylvania nursing home. If the medicaid applicant 1 has medicare and 2 has not used up their 100 days benefit this approach may work.
Once you ve proven your net worth the franchise license is an investment of between 20 000 and 90 000. Keep in mind though that the actual process may vary slightly depending on the nursing home s procedures and the state s medicaid requirements. And most other health insurance policies except for special long term care insurance have no coverage whatsoever for nursing home care.
Using medicare to get into a medicaid nursing home can work for persons who have not used up all their medicare nursing home benefits. Even if you have had too much money to qualify for medicaid in the past you may find that you are eligible for medicaid nursing home care because the income limits are higher for this purpose. Many seniors rely on medicaid to pay for long term nursing home care.
The cost is significantly more than most people can afford for long.