What is Medicaid
By Paul Lorrah
Medicaid now covers health care and long term care - today we're focusing on the long term care Medicaid program.
Medicaid is a joint federal and state funded program designed to pay for long term care costs associated with aging or a disability.
Long term care costs rise significantly each year. The average cost of a nursing home is $10,500 per month.
This is much more than most people can pay for any length of time.
Medicaid has become the long term care insurance source for middle class Americans.
Medicaid - also known in some states as LTSS [Long Term Services and Supports] is the largest source of LTSS funding in the country.
Currently Medicaid covers more Americans than any other health insurance program. 76% of all individual receiving care at a nursing home utilize the Medicaid program to pay their bills.
Medicaid is NOT welfare, it's part of the Social Security Act and was created in 1965. Originally intended solely for the cost of long term care.
The Medicaid program is the only program that will pay 100% of a person's nursing home costs [and in some states assisted living and at home care costs].
Medicaid does however have strict eligibility guidelines for income, assets and medical needs.
Please read or next blog - Medicaid 102 - Eligibility basics
then call us at 855.471.6771 or email - email@example.com