Are You Struggling To Figure Out How To Pay For Long Term Care For A Loved One In A Nursing Home?
We often think that Alabama Medicaid is the only way to pay for nursing home for our spouse or parent.
However, Medicaid is simply one solution among a number of solutions.
To properly determine how to pay for nursing home care, we have to look at the risk and then all of the options before we can adopt a … (Read more)
We are updating this popular article for 2019 so pardon any mess in our renovation. 🙂
If you are facing long term care (nursing home) in Alabama in 2019, then you almost certainly are looking at Medicaid which pays for nursing home care for most folks. When we look at Alabama Medicaid, we have to know the numbers.
Whether we like it or not, Medicaid runs on numbers.
All sorts of numbers so let’s take a look at them along … (Read more)
We often talk about how to qualify for Alabama Medicaid but how does it actually help someone who is facing long term care in a nursing home?
The simple answer is someone who qualifies for Alabama Medicaid will have their nursing home monthly bill paid by Medicaid.
Here’s how it works in a nutshell.
Bob goes into a nursing home and the monthly bill is $7,500.
Bob has Social Security of $1,500 a month and that’s it.
So how in … (Read more)
“Who should I take professional advice from?”
This is a big issue because professionals of all types (doctors, lawyers, financial advisors, CPAs, social workers, etc) and others love to give advice outside their area of expertise.
So what’s the problem with this?
A professional should only advise you on areas that professional is competent in!
Any professional should be competent in his or her area.
A problem happens when that professional lets ego to get to them and they start … (Read more)
Many times when we’re helping families plan long term care, or maybe helping out families who are in a long term care crisis, the subject of annuities tends to come up.
An annuity under Elder Law is where we turn an asset into a steady stream of income.
We give money to the insurance company, and they hand us back a contract that says, “We will give you X amount of money back over a span of Y months.”
This … (Read more)
When you’re dealing with Alabama Medicaid and deciding where your parents should be, you may wonder, “Will they get bad care because they’re under Alabama Medicaid?”
The simple answer is no.
This question usually comes up because we tend to think of Alabama Medicaid as being “lousy.”
Or we don’t want our parents to be on Medicaid.
The truth is that nursing homes are expensive, and Medicaid pays for about 75% of long term nursing home residents.
Most nursing … (Read more)
