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Eldercare
Reply to "affording elder care?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Thing is that usually you have to spend your own assets to cover pre-nursing home care. In most states, Medicaid does not cover assisted living. Other things that people do are to move their elderly parents into their own house and to pay for their care. Not lots of options at all. [/quote] When you say spending down “own assets” are you talking about OP’s assets or her mom’s? OP shouldn’t have to spend a cent of her own assets. She will need to spend down her mom’s. OP should get POA over her mom now (health and financial) should her mom lose her cognitive abilities or need assistance in applying for Medicaid. Most states do cover LTC with Medicaid (not Medicare).[/quote] Correct, the assets belonging to person being admitted into the nursing home and who will eventually need Medicaid assistance. Not OP. And agree on POA as well as a Medical POA. [/quote]
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