Nursing home planning makes it possible to choose a safe nursing home and to get your nursing home costs covered. Far too many people engage in no nursing home planning; then it becomes too late and a person has to go into a nursing home with no way to pay for it, except with private assets. Family members or the patient themselves might also be under tremendous stress in an emergency situation where nursing care is suddenly required, making it difficult to protect the rights of the patient.
Pyke & Associates, P.C. can help you to create a nursing home plan in advance. The sooner you create your plan, the more peace of mind you will have by knowing your assets won’t be lost if you must seek nursing home care. Give our Atlanta nursing home planning lawyers a call today to get started with your personalized plan and to get answers to questions including:
- What is involved in nursing home planning?
- Is nursing home planning something I should do?
- How can an Atlanta nursing home planning lawyer help?
What is Involved in Nursing Home Planning?
One of the most important steps in nursing home planning is to ensure you can get the costs of nursing home care paid for by Medicaid. Medicaid is, for most people, the only source of insurance which will cover nursing home costs and allow you to avoid paying privately. Medicare and private insurance are not going to cover the types of nursing care most people need, which is called custodial care. Instead, Medicare and private insurance pay only for limited periods of time spent in a nursing home to receive skilled medical services.
Custodial care in a nursing home can cost thousands of dollars a month, and can be required indefinitely until the patient passes away. Unless you qualify for Medicaid, you will have to pay for the costs of this care out-of-pocket. Medicaid is needs-based and there is a resource test, so most people don’t qualify right away. They are forced to spend their own money and sometimes even sell their property until their resources decline enough that they can qualify for Medicaid coverage.
As part of the nursing home planning process, you can change the way your assets are owned so they don’t count as resources that would disqualify you from receiving Medicaid. By doing this, you can protect all of those assets and ensure you get Medicaid coverage right away when you require nursing home care.
Your nursing home planning process can also include conducting research into nursing homes to choose a facility which will provide you with high levels of care, and making other plans to protect yourself in case illness or injury leaves you incapacitated. Creating a power of attorney, for example, will allow you to vest authority in a trusted person to manage your assets, affairs, and even make healthcare choices for you. The person who you have given power of attorney to can sign nursing home admissions paperwork on your behalf if you become unable to do so and need care.
Is Nursing Home Planning Something I Should Do?
Nursing home planning is something everyone should do. You never know when you are going to be forced to go into a nursing home after a medical diagnosis or an injury leaves you unable to live on your own. A stroke, a diagnosis of dementia, a broken hip and many other ailments can necessitate a person going into a nursing home right away after discharge from a hospital. Without a plan in advance, this can be a financial tragedy and very stressful time for the patient and family.
Nursing home planning is also something which should be done well in advance of the time that care is needed. Medicaid looks back five years to determine if assets where transferred, and such asset transfers are necessary as part of Medicaid planning to protect the assets. You will be temporarily disqualified from Medicaid coverage if your plan was not completed at least five years before you need care. This means being forced to pay out of pocket and losing some of your wealth to the nursing home until you can qualify for coverage.
How can an Atlanta Nursing Home Planning Lawyer Help?
Pyke & Associates, P.C. has helped many clients in Atlanta, Peachtree City, Stockbridge, and surrounding areas in Georgia. If you need assistance with nursing home planning, give us a call at 770-507-2500 or contact us online to find out how we can help.