Nursing home and long-term care costs continue to rise and it is difficult to qualify for Medicaid to pay for nursing home costs. Long-term care insurance can help cover expenses, but long term care insurance contracts are notoriously confusing. How do you figure out what is right for you? The following are some tips to help you sort through all the different options. Find a strong insurance company The first step is to choose a solid insurance company. Because it is likely you won't be using [...]

Traditionally, Medicaid has paid for long-term care in a nursing home, but because most individuals would rather be cared for at home and home care may be cheaper, all 50 states now have Medicaid programs that offer at least some home care. In some states, even family members can get paid for providing care at home. Medicaid is a joint federal-state program that provides health insurance coverage to low-income children, seniors, and people with disabilities. In addition, it covers care in a [...]

Last Year for Couples to Use 'Claim Now, Claim More Later' Social Security Strategy This is the last year that spouses who are turning full retirement age can choose whether to take spousal benefits or to take benefits on their own record. The strategy, used by some couples to maximize their benefits, will not be available to people turning full retirement age after 2019. The claiming strategy -- sometimes known as "Claim Now, Claim More Later" -- allows a higher-earning spouse to claim a [...]

Protecting Your House After You Move Into a Nursing Home While you generally do not have to sell your home in order to qualify for Medicaid coverage of nursing home care, it is possible the state can file a claim or a lien against your house for the amount expended on your behalf while on Medicaid, so you may want to take steps to protect your house.  If possible, you should consult with your attorney before entering a nursing home, or as soon as possible afterwards, in order to discuss [...]

Understanding Medicare's Hospice Benefit Medicare's hospice benefit covers any care that is reasonable and necessary for easing the course of a terminal illness. It is one of Medicare's most comprehensive benefits and can be extremely helpful to both the terminally ill individual and his or her family, but it is little understood and underutilized. Understanding what is offered ahead of time may help Medicare beneficiaries and their families make the difficult decision to choose hospice if the [...]