Actually, legally you can NOT keep your home and get medicaid. That's the problem. You have to sell all of your assets to qualify. And of course, the elderly parent does not want to do this is some cases. They become paranoid and think you will take all of their money. Medicaid is not the answer if they are tring to keep their house. |
Cancer, heart disease, etc aren't really terminal illnesses until (or unless) they reach a terminal, end life stage. People can live for years and years with cancer only to die decades down the road from a stroke or whatever. Obviously, the older they get the more chronic conditions they will likely contend with - HBP, type II diabetes, etc. People can live with a disease like Alzheimer's for years and years. That is different than caring for someone who has under a year to live which involves much shorter term planning. |
Doesn't it depend on the state? Nursing home care is way more expensive than aging in place with an aide. And my understanding is that certain states allowed you to 'save' your home as long as everything else was spent down. |