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Medicare
Q: Will Medicare pay for some or all of my nursing home expenses?
A: Medicare will pay for a portion of your nursing home costs up to 100 days maximum, but only under certain circumstances. To qualify to receive Medicare nursing home benefits you must first spend 3 days in a hospital, then you must actually require and receive skilled care on a daily basis. As soon as your skilled care is interrupted, even by just one day, Medicare stops paying. It is for this reason that the average Medicare nursing home benefit is only 9 days. Medicare was never intended to provide significant long term care benefits.
Q: Does Medicare pay for home care costs if I should require custodial care in my home?
A: No. Medicare does not pay for custodial home care. It may however pay for specific skilled care home services on a limited basis. Medicare was never intended to provide custodial care benefits in the home.
Q: If Medicare will not pay for long term care benefits, what are my options?
A: The best solution is to purchase a good long term care policy. If you cannot afford a policy or cannot qualify medically for an LTC policy you must pay for your expenses using your savings. This is called self-insuring. When you have spent-down your savings to predetermined levels, you can then qualify for Medi-Cal (California's version of Medicaid), which will pay for your nursing home costs. Please recognize that the state of California will put a lien on your home to cover these costs. There are legal ways to protect your estate from Medi-Cal siezure. To learn more about Medi-Cal qualification and asset transfer rules, please consult a qualified senior advisor.
Q: Where can I go for a good source of Medicare and Medicare Supplement information?
A:
If you require information on Medicare please go online to www.medicare.gov or you may call 1-800-633-4227. If you require information on Medicare Supplements or Medicare "Part D", please visit the FAQ section of www.sihis.com or call 1-800-300-1376.
*The above FAQs are for informational purposes only and should not be considered advice or counsel as to any particular individual or family's situation for estate or elder planning purposes.