Planning our retirement goes along with a long long list of stuff that we just don't want to do.
Not right now, that's for sure.
But as much as we'd like to think that we will always have our health and strength, well, reality proves differently.
There are many options available and many ways we need to consider.
One of the services we always hear about, but never really get the chance to go into, is Medicaid.
What do you need to know about Medicaid? Well, it is a program that is run by our government and covers healthcare costs, mostly for people who can not pay these charges on their own.
Of course that every person has a different level of eligibility, but all and all, Medicaid will cover some sort of health related services, for those of us who are not Bill Gates.
In this article, we'd like to focus on the requirements for two major Medicaid services: Community Based Long Term Care and Nursing Home Care.
- Community Based Long Term Care, or Community Medicaid, basically covers all of a person's long-term healthcare needs, excluding nursing home care.
This type of homecare services include assisted living programs, home healthcare services and adult day healthcare.
As mentioned, nursing home services are not a part of Community Medicaid.
There are several requirements to follow when one wishes to apply to Community based, long-term healthcare.
First, an individual must submit all of his financial resources and income.
By the way, past financial history is not of any importance and for this reason, a person can actually restructure his finances and receive Medicaid, without doing anything illegal.
Many people do not understand the fact that they are eligible for home healthcare because they do not have enough Medicaid information.
- Nursing Home Care, also known as Community Medicaid, is a tough one to get.
Unlike community-based home healthcare, there are very strict eligibility requirements when thinking about nursing home care.
When a person applies for nursing home care, the folks over at Medicaid will conduct a through look over his financial history, going back at least five years from the day of the application.
According to the Medicaid rules, every $10,000 that were transferred from your account during those last five years disqualify from receiving a nursing home help for one month.
Yup.
This means that if, in the past five years, you've transferred, let's say $50,000, then you would be disqualified from nursing care for five months.
So what can you do? How would you whether you qualify for any of these services? Well, a good place to start would be collecting all the Medicaid information you can get.
Try to find out everything you can about Medicaid applications, community Medicaid and Medicaid assistance.
By the way, there are professional companies out there that can provide you with Medicaid information and help you with your financial eligibility and Medicaid application.
By contacting one of these companies, you can actually start getting Medicaid homecare services while your application is being approved.
It's never too late for Medicaid and the time to act is now.