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Subject:  Book Review: Heiser, K. Gabriel on LTC & M'caid Date:  5/16/2013  2:27 PM
Author:  Dwdonhoff Number:  4186 of 4781

Couldn't get the full book title in the post Title...

How to Protect Your Family's Assets from Devastating Nursing Home Costs: Medicaid Secrets (4th Edition)

A very good info resource, IMO.

Among many other things, this elderlaw attorney explains how prior to 65 y.o. you can shelter all your countable assets legally so that you are in a position to immediately qualify for Medicaid.

One of the reasons this can be a good idea is that Medicaid (in most states) will cover the costs of up to 16 hours a day of in-home care and living assistance... which is a pointless bit of trivia if you are truly and completely broke, since you would not be able to afford to cover the remaining 8 hours a day to ensure your survival, let alone supplemental support expenses (uncovered dental work, anesthesia, transport/travel costs, etc.)

Of course, the vast majority of folks would far prefer to live out their days in their own residence, with assistance, rather than suffering the environments of the nursing homes.

Further, privately paid medical and drug costs are billed at the normal public rates, where the exact same services and supplies are paid by Medicaid at dramatically negotiated discounts up to 60% less.

FOR ETHICAL CONSIDERATIONS, whether your particular state requires legally sheltered assets to be used as reimbursement to the state for their incurred Medicaid costs, or not... if you are reuqired, or choose to voluntarily reimburse the state, you would be doing so for the costs incurred at Medicaid pricing, rather than at public retail pricing.

Dave Donhoff
Leverage Planner
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