Know Your Rights

Consider that there will be 40 million Americans over the age of 65 by 2040. Statistics are also showing many other interesting facts.

Did you know that 75% of people will require Long Term Care during their lifetime and that 50% will require care for a minimum of one year or more?

Did you know that the average cost to stay in a nursing home is in excess of $6,500 a MONTH.

Because a significant amount of Americans will end up in nursing homes, it is a fact that many of them will go broke paying for their care.

Most have no idea that, in order to receive financial assistance through Medicaid, they have to spend down their “countable” assets to $2,000 (single clients). It is because of this reason that we believe every advisor giving advice to clients age 60 and older should know this subject matter.

Unfortunately, there are very few advisors (meaning insurance agents, financial planners, CPAs or accountants and attorneys) who know even the basics about Medicaid planning let along what we call “proper” Medicaid planning.

Many advisors and their clients believe that Medicaid will help them pay for their nursing home costs.  That’s true but only if their clients improvrish themselves. What does that mean? Again it means that single client will have to spend down his or her “countable” assets to $2,000 before being able to qualify for financial assistance through Medicaid.  For married couple in most states, in order to qualify one spouse for Medicaid, the other spouse cannot have countable assets in excess of approximately $110,000.


Call us or email us to schedule your free consultation! We look forward to speaking with you.