Nursing home care can be expensive. Thankfully, government programs like Medicare can be used in multiple ways to help cover costs for those in need.
When elderly folk become ill or sustain a serious injury, they may require constant medical attention during their long recovery. For some, this means assisted living or installing medical equipment for a spouse or loved one to care for the patient. For many, this scenario often leads to temporary or permanent residence in a nursing home. These homes cost money, however, and expenses must be covered in some fashion. Thankfully, there are ways to use government Medicare to find a solution to cost concerns.
Apply For A Medicare Bed
When using government assistance, patients often receive different sets of benefits and equipment. In the case of nursing homes, patients are placed in Medicare beds. Though they may not be exactly the same, these beds provide equal care to residents. Those who take advantage of this program can rest assured that they are receiving great healthcare. To neglect or deny proper care to a patient would constitute nursing home abuse.
Manage Assets
Eligibility for government assistance depends on many factors, like insurance, current health, and tax bracket. The majority of patients choose the option of liquidating their assets first in order to receive Medicare. If the patient has a spouse, they may split their shared assets in half, then sell the patient’s half of their belongings. The spouse of a patient in a nursing home may keep the other half up to a value determined by the state. Residents who receive Medicare after selling their assets often expect to live in the nursing home for an unforeseeable amount of time. There are situations, as in the case of nursing home abuse, where some of the value of these assets may be recovered.
Split Costs
Medicare varies from state to state, so all are encouraged to research specific guidelines for their government healthcare plans. But as a general rule of thumb, Medicare will cover most of the cost while certain services will need to be paid for out of pocket. Some patients may choose to limit the amount that is covered, instead splitting the costs with their personal funds or insurance policy first. In this way, Medicare can be used as a sort of “Plan B” after exhausting other options (liquidating assets in the process).
