The Soaring Costs of Medicaid and Handling a Medicaid Crisis
The Soaring Costs of Medicaid and Handling a Medicaid Crisis
Did you know that the average monthly cost of a semi-private room in a U.S. nursing home is over $7,900? For a private room, it’s more than $9,000! Depending on where you live, these costs can be even higher.
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The Soaring Costs of Medicaid and Handling a Medicaid Crisis
Despite these high costs, nearly 70% of people over 65 will need long-term care at some point, and 20% will need it for five years or more. This often leads families to quickly deplete their savings when a loved one enters a nursing home, which is why more than half of all nursing home stays are now funded by Medicaid.
Planning for future care isn’t always easy. If your loved one is already in a nursing home or needs to enter one soon and has been told they own too many assets to qualify for Medicaid, your family might be facing a Medicaid Crisis.
This situation can be a financial nightmare for most families. But don’t worry. Much of what we hear about Medicaid from friends, relatives, nursing home staff, caregivers, and others can be outdated or incorrect.
Fortunately, it doesn’t have to be this way. A qualified elder law attorney can evaluate your unique situation, strategize the best options for your family, and help you get assistance from Medicaid. In fact, it’s possible to get Medicaid help even if you are already in a nursing home or need to enter one soon. Likewise, even if you’ve applied for Medicaid before and were rejected, an experienced elder law attorney might still be able to help you secure the financial assistance you need.
You’ve worked too hard to lose your life savings to a nursing home. Let a skilled elder law attorney help you get the financial support you deserve.
At Haimo Law, we pride ourselves on our holistic approach to representation, which sets us apart. Firstly, we build personal relationships with our clients, taking the time to understand them on a deeper level. Secondly, we collaborate with other professionals, such as CPAs, financial advisors, realtors, other attorneys and more, to achieve our clients’ goals. We view planning as a team effort. Thirdly, we consider our client’s emotional, mental, familial, and spiritual needs, recognizing that various circumstances and factors influence their behavior, with legal matters being just one aspect. Our distinctive and refreshing approach ensures that we consider all these elements in every client engagement. Offices in Fort Laudedale, Florida and Port Jefferson, New York.
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