Does Medicaid Cover Long Term Care?

The oldest baby boomers today are already turning 70. The possibility of requiring long term care is looming even if medical treatments are more advanced now. They are at risk of needing assistance when carrying out their daily living activities like eating, bathing and toileting.  

The cost of long term care is soaring these days, so how can baby boomers cover this? Medicare doesn’t cover the core of long term care. The Veteran’s Administration on the other hand provides some coverage but restricted to VA nursing homes. Long-term care insurance is the most efficient solution but sad to say only a few Americans have bothered to purchase.  Most Americans rely on Medicaid and if you’re of one of those people, here are important things you need to know about Medicaid:

1. Medicaid care takes away choice.
2. Medical and financial qualification is necessary.
3. Exemptions for spouses remaining in community.
4. Avoid Medicaid planning and transfers.
5. Consider Long Term Care Insurance.

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