Forming a plan for memory/long term care

[Anonymous]

My father (mid-70s) lives with me and my family as he is declining. He's had symptoms of dementia for over a year and it's finally time for me to get organized. He is an immigrant, had a low income job (think earnings of under 30k annually), and as a result has minimal retirement savings. He does have a very small nest egg from sales of a home. Where do I start to figure out an alternative living situation for him?

My family is middle class but has two children, including one with special needs so we do not have the bandwidth nor savings to pay for retirement living for him; we know we need a spend down plan and we need direction on identifying low income, medicaid eligible housing.

Any advice welcome.

[Anonymous]

He'd go into a long term care medicaid bed at a nuring home. What state?

[Anonymous]

Consulting an elder care attorney was the best thing we did. He had information about the process, Medicaid, and places to consider. It’s important for you to get POA if you don’t already have it. Lawyer said we could create a lease where he pays you for rent, you tuck that money away for later, then when he qualifies for Medicaid you can use that money for anything else he needs (personal aides, etc.)

[Anonymous]

There also are care consultants who an help you figure out the options.

[Anonymous]

Depending on the state he may qualify for in home support services. It’s when the state pays for his care at home and he can either hire someone or you can get paid. Some people are official caregivers but pay cash to someone who does the work.

[Anonymous]

You need more money. Memory homes that are decent cost at least 200k annually. Medicare and Medicaid will be eliminated soon and cost are going to skyrocket. I predict most Americans will not be able to afford assisted living care and many will go back to caring for the elderly in their houses. Do you have an extra bedroom in your house?