Get Expert Medicaid Application Help for Long Term Care
Financial Implications and Benefits
The financial benefits of securing Medicaid assistance for long-term care are significant. According to the Genworth Cost of Care Survey, the median annual cost for a private room in a nursing home was $105,850 in 20201. Medicaid can alleviate this financial burden by covering these expenses, allowing families to allocate their resources more effectively. Additionally, expert guidance can help avoid costly mistakes in the application process, such as inadvertently disqualifying oneself due to improper asset transfers or failure to comply with the look-back period regulations.