For fiscal year 2020, 76.5 million Americans were enrolled in Medicaid, including 6.4 million seniors. Medicaid is the single largest payer for long-term care in this country. In part, that’s because the cost of long-term care can be so exorbitant — averaging $51,600 a year for assisted living and $93,000 for a semi-private nursing home [...]
We all know that location is critical when it comes to investing in real estate, but research shows that geography also is key to getting the best care for seniors. In the fall, we shared the latest rankings for the states with the best long-term care services in the U.S. Another recent report examines the [...]
The jargon used in the senior living and healthcare industry can be confusing; there are a lot of terms that sound similar but have very different meanings. One phrase that can sometimes befuddle people is “Medicare-certified" as it relates to senior care providers. So, let’s break down exactly what this term means. >> Related: Demystify [...]
‘Tis the season for giving. Many seniors use the holidays as an opportunity to give away some of their cash or other valuable assets to loved ones. And while their generosity is no-doubt appreciated by the recipients, there are reasons to be cautious about how much you give away. Gifting to qualify for Medicaid Some [...]
In a previous post titled Long Term Care: What Does Medicare Actually Cover?, I described the possible out-of-pocket financial impact someone may face by receiving care in a private-pay skilled nursing facility (SNF) versus a Medicare-certified SNF. In a nutshell, Medicare Part A will cover medically necessary skilled nursing care—for a limited time and limited amount—if certain [...]
Although Medicare is usually thought of as coverage for hospital stays (Part A) and doctor visits (part B), it also has an application to senior living. When I speak to groups of people who are considering moving to a retirement community—specifically continuing care retirement communities (CCRCs)—I’m often asked how Medicare plays into the decision. I’ll [...]
