Paying for Long-Term Care - NCRO for LTC - Chrysler A.pdf · Long Term Care/Nursing Home Long term...
Transcript of Paying for Long-Term Care - NCRO for LTC - Chrysler A.pdf · Long Term Care/Nursing Home Long term...
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FinancialResources to be utilized before using the client’s money
• Medicare• Medicaid• Long Term Care Insurance• VA Benefits• No Fault / Accident Insurance• Private Insurance
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TIME + MONEY = OPTIONS
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Financial OptionsPrivate Funds Medicare Medicaid Long Term
Care
Insurance
VA Pension
Home w/
Assistance
Yes Maybe MI
Choice/PACE
Maybe Yes
Adult Foster
Care Home
(small)
Yes No MI
Choice/PACE
Maybe Yes
Large AFC/
Assisted
Living
Yes No MI
Choice/PACE
Maybe Yes
Nursing Home
(SNF)
Yes Limited Yes/PACE Yes Yes
Hospice Yes Yes for services
(but not room and
board)
Maybe Maybe Yes
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Assisted Living Facilities• Provide care in a setting
that is more of apartment type living
• Offer different levels of care (1-4)
• Assessed by facility before admissions
• Provide 24/7 staff
• Many ALF’s provide secured memory units
• Private pay, VA, some take Medicaid Waiver
• Not required to be licensed by the State
• Monthly cost ranges from 3500.00 –12,000.00
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Adult Foster Care HomesIs an actual home setting
• A home setting with 6 to 12 residents
• Required to be licensed by the state of Michigan
• Monthly cost is 879.00 to 8000.00
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Home Care
Staying in your own home and receiving in home care.
• Services provide by a home care agency
• Hire your own caregiver
• Going rate is 20.00 to 23.00 per hour for caregiver services
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Medicaid WaiverProgram designed for individuals
who might otherwise be in a nursing home.
• Must be financial eligible – Medicaid
• Must be medically eligible – Meet one of the seven doors
• Monthly income can not be over 2205.00
• Program provides community living supports (ADL’s and homemaking)
• Provides home modifications i.e.; ramps, bathroom remodel, grab bars
• Program is funded through Medicaid dollars
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PACEA program of All-inclusive Care
for the Elderly• Community based care for people who need
nursing home level of care
• Uses Medicare and Medicaid funds
• Team of Health care professionals to help make the health care decisions
• Large range of services provided
• Michigan has 15 PACE Centers
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Adult-Day ProgramsA coordinated day program for adults in a community-
based group setting.• Provide care to elderly persons and other adults with physical and/or cognitive impairments• Cost varies in each community – Charge is usually full day
orhalf day• Pay is private, Medicaid Waiver or VA(if they are a VA
provider)• Most participants are living with a spouse or adult
children
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Long Term Care/Nursing HomeLong term care/nursing home
provides 24/7 skilled care.• Nurses on duty 24/7
• Daily cost is about 275.00 per day
• Facilities accept Medicaid, private pay and long term care insurance
• Facilities take Medicare for rehabilitation days only
• Spenddown strategy
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Questions and Answers
Christopher W. SmithMegan Kiser, LBSWwww.mielderlaw.com(248) 799-2711
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