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Reply to "Tell about nursing home care and how to pay"
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[quote=Anonymous]10:43 here. Here is some helpful information regarding "spending down" of assets and Medicaid eligibility from http://www.elderlawanswers.com/spending-down-assets-to-qualify-for-medicaid-12003: In order to be eligible for Medicaid, applicants must have no more than $2,000 in "countable" assets (the dollar figure may be slightly more, depending on the state). Applicants for Medicaid and their spouses may protect savings by spending them on non-countable assets. The following are examples of such expenditures: prepaying funeral expenses paying off a mortgage making repairs to a home replacing an old automobile updating home furnishings paying for more care at home buying a new home In the case of married couples, it is often important that any spend-down steps be taken only after the unhealthy spouse moves to a nursing home if this would affect the community spouse's resource allowance.[/quote]
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