What If You Already Have Medicare?
Long-term care for your aging loved one can be tremendously expensive. Just a few years of paying for long-term care can wipe out your loved one’s life savings. Many people are surprised to learn that Medicare does not pay for long-term care. Medicare primarily pays for hospitalization, rehabilitation, physician visits, durable medical equipment and hospice services.
Medicare only covers short term care and a lifetime benefit for a maximum of 100 days for rehab or skilled nursing, which must be initiated by a hospital admission. For those who qualify, Medicaid can alleviate the burden of paying for long-term care.
Therefore, for long term care, Medicare is simply NOT an option.
There is a Solution: Medicaid!
Medicaid, through its Institutional Care Program, pays for licensed skilled nursing facilities (i.e, nursing home). Further, through its Statewide Medicaid Managed Care Long-Term Care Program (SMMC LTC) system, also referred to as a nursing home diversion program, Medicaid also pays for some in home care, as well as assisted living facilities.