Long-term care often needs more than Medicare for expenses

As Texas residents age, some may come to realize that their health is not holding up as well as they had hoped. They could develop serious medical conditions or have a disability that makes it likely that they will need long-term care in the future. If this is the case, planning ahead is wise.

Many people may expect Medicare or Medicaid to cover the necessary expenses associated with extended care, but that is not a guarantee. Medicare may cover a short-term stay in a nursing facility for qualifying individuals, but the coverage typically only lasts 20 days before the patient will need to pay a portion of the costs up to 100 days. After 100 days, Medicare will no longer cover any portion of the costs.

When it comes to Medicaid, patients may be able to receive more coverage for their long-term care costs. However, there are financial requirements associated with qualifying for Medicaid. Individuals with too many assets may not qualify at first, but that does not mean they are out of hope. Looking into Medicaid planning options and ways to spend down current assets may be wise.

It is common for individuals to be unfamiliar with how to go about Medicaid planning or seek to ensure that care costs will be covered. Fortunately, experienced elder law attorneys can help interested Texas residents gain information on this possible option. The idea of needing long-term care can be unsettling, but planning ahead could help concerned individuals feel more at ease about needing this type of care.

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