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Costly Advice In Long Term Care
Beware of the Myths

By Paul C. Moors
Published in the Arizona Senior World

We all know someone in a nursing home. We also know that it can be very expensive; easily three to four thousand dollars a month. At that rate, most savings would disappear quickly. One of the ways to pay for that nursing home care is to be eligible for federal and state financial assistance under Medicaid (ALTCS in Arizona). That program has been around long enough for a lot of people to think they know enough to give advice on how the system works. If you listen to that advice it can cost you thousands of dollars.

Here is some advice and misinformation that has been given from time to time:

1. If you have transferred any money you must wait at least three years before you are permitted to apply for Medicaid.
2. It is illegal to give away any assets and then apply for Medicaid.
3. You must spend everything you have until there is only $2,000 remaining and then you can apply.
4. The government will take your house and other assets to pay for the long term care.
5. When you do apply, they will put you in a state-run facility.
6. There is nothing you can do, just pay until you run out of money.
7. The state will hold your kids responsible for the cost of your care.
8. If you are married, put your half of the assets in a trust, spend your spouses half and they will then be eligible.
9. Give all your money to the kids and then apply.

These statements are either dangerous, completely false, or the consequence can be avoided with advice from an attorney familiar with all the rules and regulations. Get that advice as soon as it looks like someone will need nursing home care. Timing is important both to put appropriate planning in place and to get the individual eligible as soon as possible so they can stop paying at the private rate the nursing home charges.

Remember also that financial assistance is available for in-home care. For more information please contact the Law Office of Paul C. Moors.

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