How Do I Pay for the Nursing Home?

There are four (4) ways to do it if you don’t have Long Term Care Insurance.

Your parent (or you) need to be admitted into a Los Angeles Nursing Home. Assisted Living Facility is not an option anymore because you likely need intensive care. In-Home Care is not an option because it is too expensive. Don’t just opt-in for private pay – do your due diligence! Find out if you can qualify for the below programs (aside from #1). 

Here are all of your options: 

#1 Use Your Own Money

Well you could use your own money. If you’re broke, the government will help you at the end of the day. 

Most people use their own money, this is the most common thing that people do. It’s sad though, that assets are getting wasted this way, especially when they don’t need to be. I guess it’s a way to do this.

#2 Aid and Attendance For Veterans

As a veteran you qualify for aid and attendance if you fought in certain wars. The government would help with nursing home, or long-term care costs. 

To qualify you must have a net worth limit of $127,000, which increases yearly with cost-of-living adjustments. However, in the case of a VA, this amount includes both your assets and your income.

#3 Medicare

Medicare is a government program that is targeted towards 65-year olds and higher. You are automatically enrolled if you’re 65. 

They will usually help you with your health insurance and will also help with long-term care. If you’re in palliative care or in a hospice, and you injure yourself, needing rehab, they will cover up to 100 days. 

What happens most often is that after a hundred days you’re off, and now you have to pay with your own money. The decision becomes one of whether to pay for a hospice, or whether to bring them home and do in-home care, which is a big problem these days.

So, we have to figure out which is best. Which style do they want? In that regard Medicare has limited benefits.

#4 Medi-Cal

Medi-Cal is also called Medicaid. Whether it is Medi-Cal, Medicaid, it is still the same thing. It is a joint government program, that will cover almost all your nursing home expenses.

Though it does not cover all long-term care expenses, it does cover nursing home and some assisted living facilities if the facility takes Medi-Cal. 

A lot of people think that using Medi-Cal must mean they are poor. As if people think that they don’t have enough assets, therefore they need Medi-Cal. 

That is not the case.

Medi-Cal is simply a box with a set of rules. You have to ask yourself, do you fit in this box? If you do, you’re on Medi-Cal. If not, maybe you just need to do a couple of things and you will be qualified for Medi-Cal.

You should speak with an attorney that knows the procedures and how to get on Medi-Cal in order to do this. A lot of people have no idea that if for instance you own a house in Beverly Hills, and it’s worth let’s say $4 million, and you have nothing else.

If you come to me and say, “Hey, I have a $4 million house. What do I do for long-term care?” I’m going to sit them down and tell them, you will qualify for Medi-Cal. Believe it or not, you qualify.

It’s as simple as asking an attorney. 

You might need to move a couple of things in other situations, but in that situation, you’re good and you don’t have to sell your house. You don’t have to pay all those taxes.

Do Your Due Diligence. Get the Information You Need.

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