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[quote=Anonymous]
If either of your parents were a Veteran who meet the criteria of service and have limited resources, one can apply for the Veteran's long-term benefit which if one qualifies for most is $2,000 a month and then half for the surviving spouse.  My friend also said you want to use a lawyer who is familiar with this benefit as a trust of some sort also has to be set up and the application can take a long time.

In general if you know folks may need Medicaid in the future, then you want to transfer assets  before 5 years as there is a 5-year Look Back period on such transactions, but if done before then, it is OK>

Also, you may want to ask around what is generally accepted by care places for folks who come in as private pay and then will need Medicaid.  About 2 hours out of the DC area, our friend was told that it was 3 years of private pay in evaluating folks in terms of resources and this is a lovely 3-tier place.

In our case we have wonderful long term care insurance for ourselves, but a young adult daughter with a disability  who resides with us, and there is very little chance she will get an ID waiver until there is a real crisis as we age out.

Also, our daughter has already gotten the new approach of  Managed Care for those on Medicare and Medicaid which I will go to a town meeting to learn about this week.  I doubt we will move on it until we see how it is going, but I think it is the wave of the future for all of us.

It just seems unless you have an estate of about $3million+ that one is really hamstrung no matter what your situation.  A friend has her Mom in a wonderful assisted living center, but she has dementia and can easily get up and fall as she does not remember she is old.  So to prevent this there is a private sitter 24/7 to provide the coverage.  There are funds to cover it from a relative's estate, but still will end in 6 years.  Mom is 93 - but even in our close circle - do you realize how many parents are now 90 plus.  Mine are 92, my husband's mother is sleeping it away at almost 103.  And among 3 other couples:  one set of parents is 89, one Mom 98 and the one I mentioned 93.  No easy answer on what to do.
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