About
The Financial Aid Center For Long Term Care
Every day, thousands of families are faced with the prospect of placing a loved one into long term care. The emotional impact is always difficult - the financial impact can be devastating.
But there is financial help available. Medicaid pays for over half the long term care in this country. Most of the rest is paid by the families, at least until they go broke. The problem is knowing how to qualify for Medicaid without spending all your money first. Most families CAN qualify immediately, and they don't necessarily have to be "broke" to do so.
The Financial Aid Center for Long Term Care can assist you by evaluating your situation and helping you qualify for Medicaid benefits. Following are some of the frequently asked questions:
Q: HOW MUCH DOES THIS SERVICE COST?
A: There is no charge for this service. It is absolutely FREE!
Q: WHAT IS THE OBJECTIVE OF THE SERVICE?
A: The objective is to assist patients to quickly qualify for Medicaid, while at the same time minimizing, or even eliminating, the loss of assets and income resulting from a family member's long term care needs. It is our firm belief that no one should forgo proper care for fear of losing their savings or other assets. Even couples with substantial assets and/or income can often qualify for assistance and still preserve their savings. It is a matter of understanding the options available.
Q: HOW IS THIS ACCOMPLISHED?
A: Your financial situation will be carefully reviewed. Based on our experience and knowledge, we will advise you as to the steps that you can take to quickly qualify for assistance, while, at the same time, preserving the value of your savings and assets. In many cases, through the use of Medicaid-approved spend down alternatives, the full value of your assets can be preserved, while immediately qualifying for the benefits to which you are entitled. At your request, we can discuss our recommendations with your attorney, family members or other parties. Remember, we can only recommend - the decision to act is always in your hands.
Q: WHAT TYPES OF CARE ARE COVERED BY MEDICAID?
A: Medicaid covers the full range of care, including nursing home, adult foster care, assisted living, as well as at-home care. Remember, Medicare is your Government health insurance, and, except for a limited benefit for skilled nursing care, does not cover long term care. Medicaid, on the other hand, is the program that can provide benefits for long term care.
Q: WHO MIGHT BENEFIT FROM THIS FREE SERVICE?
A: Anyone who falls into any of the following categories:
1. ABOUT TO ENTER LONG TERM CARE.
2. Already in a nursing home, foster care, assisted living, receiving at-home care, or other form of care, and paying privately or temporarily on Medicare - even if you have been turned down by Medicaid, or are still in the "spend down" stage. (The value of the remaining spend down can usually be saved for the future use of the spouse, while qualifying the patient for immediate benefits.)
3. Receiving care at home from friends and/or family.
4. Cost of prescriptions creating a significant financial problem.
Q: WON'T THE MEDICAID WORKER HELP ME SAVE MY ASSETS?
A: The Medicaid case worker's primary responsibility is to perform assessments and determine eligibility. It is not their responsibility to help you save your assets. Although most Medicaid Case Workers try to be as helpful as possible, and can provide a great deal of information about the system, they would not normally have the intimate knowledge of the various financial tools required to save assets, nor are they allowed to give specific financial or legal advice.
Q: HOW DO I FIND OUT IF THIS SERVICE CAN BE OF HELP TO ME?
A: Call The Financial Aid Center for Long Term Care at toll-free 1-888-870-5467 (or click e-mail below) to arrange for a free, confidential phone interview. Based on the information you provide, we will determine under what conditions you could qualify, the financial impact, and recommendations on how you should proceed. We may also recommend that you consult an attorney for those matters which may involve legal advice. Before making any decisions you need to know your options. Our goal is to put you back in control of your financial life.
Return to Front Page e-mail to: Help Desk
©2003 The Financial Aid Center for Long Term Care
