If you are not concerned about incurring nursing home expenses late in your life you should be. These costs are extraordinary, and they are steadily rising as the years pass.
There are those who are under the impression that it is unlikely that they will ever need care. But if you were to ask these individuals if they expect to live to the age of 65 virtually every one of them would say yes.
Statistics provided by the United States Department of Health and Human indicate that the majority of people who reach this age will in fact need living assistance at some point in the future. So, going through life with the expectation that you will never need long-term care is a mistake.
Another misconception is the idea that Medicare pays for long-term care. In fact Medicare won’t cover these expenses, and if you are thinking that you will simply write a check the average annual cost for a year in a private room in a nursing home in 2012 was over $90,000.
There is a solution that many seniors tap into in the form of Medicaid. This program is intended for people with virtually no financial resources, but there are ways that you can angle toward eligibility while still hanging on to much of what you own.
The Medicaid program can be a solution to a challenging situation, but you have to understand the way that the program works to utilize it effectively. To this end we have created an informative free report that we are offering to our readers here in the Cleveland area free of charge.
To obtain your copy of the report, simply click the link that follows and complete the form that you see to the right of the page: