Life Goes On, The Caregiver

Can Medicaid Really Seize Your Assets? (FinancialHealth.net) – Advances in medicine means people are living longer, but it’s also leading to the need for long term care. Even the best insurance only covers limited hospitalization and recovery periods. A major health event requiring long term care can trigger a series of events that can wipe a person out financially. To protect assets from seizure in the event that long term care is needed, estate planning must be done at least 5 years in advance. Why 5 years?  Medicare  and other related supplemental policies have limited coverage for short-term skilled nursing needs, but those programs don’t pay for long term care. The majority of long term care falls onto the shoulders of state Medicaid programs, for those who qualify for Medicaid and Medicare.  Medicaid  has a five-year lookback period when it comes to assets. READ MORE ...   FinancialHealth.net Back to HOME

" Medicaid Waivers help provide services to people who would otherwise be in a nursing home or hospital to receive long-term care in the community. Although there are waivers for many conditions, our focus is towards waivers for people who have intellectual disabilities, developmental disabilities, and autism. " ( http://medicaidwaiver.org/index.html ) SEE ELDERLY / SENIOR CARE WAIVERS " Many people who qualify for waiver services are not even aware that they exist. Families struggle alone, to provide care- creating economic, physical, and emotional strain. States do not educate people about these programs, and it is often only through crisis that people realize help is available. "  ( http://medicaidwaiver.org/index.html ) Find YOUR State for Available Resources Back to Home

A friend recently mentioned this term to me and was concerned what it meant for elderly parents and their offspring — especially when there was a possibility of medical bills and long term care. So I did a bit of research and figured this is as good a topic as any, while this is not specific to strokes it covers a wide range of conditions. According to the online Merriam-Webster dictionary, Filial Piety (known as pinyin: xiào in Chinese) is: “ reverence for parents considered in Chinese ethics the prime virtue and the basis of all right human relations ”’ ideally this is not only respecting the parents but also accepting responsibility for them as they age. My friend’s concern was that she could inadvertently put a serious debt onto her children’s shoulders simply because she had given birth to them. So I did a little research… I went to Nolo.com  for information. Here is some of what was said, you can click the link if you want to read it in entirety: “ More than ...