Will Medicaid Cover My Nursing Home Stay?

Transcription:
When a person enters a nursing home, Medicaid expects them to pay for the nursing home out of their own funds, and Medicaid will require that person to spend down a certain amount of their money before Medicaid takes over. What you want to do in these situations is to get Medicaid to pay as rapidly as possible. So what you want to do is look at all of the assets the person has, and do careful planning to make sure that we can use those assets to buy exempt assets a spouse at home may need, or the nursing home resident may need (like a scooter, or a wheelchair). A spouse at home may need a new car, or need an upgrade to the house (like a roof). We carefully look at using their money to buy those exempt assets first, and then we look at gifting that may be appropriate to preserve the wealth