Englewood, OH Medicaid and Nursing Home Planning
According to Simply Insurance, as of 2021 about 1.5 million people currently reside in nursing homes in the United States. Another one million elderly adults live in assisted living facilities. There are 15,600 nursing homes across America, with 1.7 million licensed beds inside those homes. The average stay in a nursing home is 835 days. According to Forbes, while few of us expect to end up in a long-term care facility, a 50-year-old has a 53-59 percent chance of entering a long-term care facility during his or her lifetime. As of July 2022, Medicaid was the primary payer for 62 percent of nursing home residents.
Medicare was paying for 13 percent, and the remaining 25 percent were either paying out-of-pocket or had purchased private insurance that covered the costs. Many people are under the erroneous belief that Medicare pays for long-term care. In fact, Medicare Part A covers skilled nursing care for medically necessary services for a very limited amount of time. Medicare is intended only for short-term services in situations where the person’s medical condition is expected to improve—in most situations, Medicare will pay for no more than 100 days. Stays that are longer than 21 days typically require patient co-pays.
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"The Best Customer Service"George and his crew provide the best in customer service and have an outstanding work ethic. They have always been there to help us when needed!- Mark S.
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"He Made It Easy"Bill was very friendly, knowledgeable, and kind. He made Estate Planning fun, fast and easy. We both feel relief to know our wishes are spelled out and our assets are protected!- Sherry C.
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"Made It Easy to Understand"George Lovett made our estate planning easy to understand and informative. He used our personal information to create a plan that was tailor-made to us.- Pamela O.
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"A Pleasure to Work With"George Lovett has helped my family tremendously. He always explained our options and took care of us with the utmost professionalism.- Marlene W.
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What Are the Medicaid Requirements for Nursing Home Care?
The requirements for Medicaid eligibility in Ohio include:
- If you are 65 or older, disabled, or blind, your income must be no more than $2,523 as of 2022.
- You must be an Ohio resident and a U.S. citizen, or have proper immigration status
- You must require care for a minimum of 30 consecutive days
- Income that is not considered countable includes $50 per month for a personal needs allowance
- Assets are divided into exempt and available. Any asset not listed as exempt must be liquidated and applied toward the costs of nursing home care before you can receive Medicaid benefits. Exempt assets include $2,000 in cash assets or $3,000 for married spouses. One home is exempt (with an equity limit of $636,000) if you are planning to return to the home, or if a spouse, child, or disabled person resides in the home.
- One vehicle is exempt.
- You are entitled to an irrevocable funeral trust with a value of $1,500 or less.
- Household furnishings, furniture, clothing, jewelry, and other personal effects are exempt.
- If you receive Medicaid and live in a nursing home, you will be expected to spend most of your income on your care, keeping only the $50 per month as a personal needs allowance.
- If you meet the Medicaid financial and level of care requirements, are 60 or older, and a doctor certifies that you are able to live at home safely with assistance, you may qualify for Ohio’s PASSPORT Waiver which allows you to receive help with daily chores, personal care, nursing care, and transportation to and from medical appointments.
- If you are 59 or younger and meet Medicaid’s financial requirements and can stay in your home with assistance, you may qualify for Ohio’s Home Care Waiver Program after showing you would have to move to a nursing facility if you did not receive the waiver service in your home.
How Can an Experienced Englewood Medicaid and Nursing Home Planning Attorney from Lovett & House Help?
The Lovett & House law firm has more than 100 positive Google reviews. Our very satisfied former clients are our best advertisement. We work hard for every client to ensure they receive the very best estate planning knowledge and advice possible. If you are facing a long-term care situation, we will immediately assess your situation, determining the best way to ensure your assets can go to your loved ones while you qualify for Medicaid assistance.
Contact Lovett & House today to take advantage of our free five-minute phone call where we will discuss your needs for the future.
