Until you encounter a serious health event, you probably won’t think beyond the social safety net for long-term care needs. The reality may be a surprise.
- Medicare only covers a portion of skilled nursing costs up to 100 days. Uncle Sam pays the first 30 days, then you pay 20% of all bills up to 90 days then you pay it all.
- Medicaid only applies to those with limited income and may limit your choices for care. Spend down rules apply forcing you to the federal poverty level.
- Most health insurance only offers short-term care.
Careful legal and financial planning can avoid a financial disaster when you are least able to cope with it. What you don’t know can hurt you. If you get it (understanding the consequences), we can help get you ready.