Tag: medicare

What does Medicare Cover in a Skilled Nursing Facility?

You or a family member have a serious health event like a stroke or a broken hip and are admitted to the hospital. Rehabilitation services are needed. What will Medicare cover?

Medicare will cover skilled nursing and rehabilitation services, that is medically necessary services ordered by a physician and performed by a physical therapist, occupational therapist or other skilled professional, under Medicare Part A.

To qualify for the coverage the patient must meet the following criteria:

  1. Patient must have been admitted to the hospital and spent three overnights. Important note: observation
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Help! My Spouse’s Health is Declining and I’m Worried about Financial Ruin!

It is a common problem.  One spouse’s health is declining. The other spouse is relatively healthy but is having trouble continuing to provide care for the unhealthy spouse at home.  Something has got to give. Soon some kind of long-term care facility will be necessary.  But how will they afford it?

According to the 2010 Market Survey of Long-Term Care Costs conducted by Metlife, the annual cost of a semi-private room in a Cleveland area nursing home was $75,190 and a private room was $87,600.

Moreover, counter to popular belief, Medicare will not cover prolonged nursing home care. Medicare Part… Read the rest

What Every Caregiver Should Know About Medicaid

Caring for an elderly loved one is one of the hardest jobs in the world.  Beyond the physical care that must be performed, you also have to practically become an expert in medical care and equipment, pharmaceuticals, and the like.  How to pay for medical care is also an issue that should be on your radar.  The purpose of this Medicaid Planning Guide is to provide you with an easy to understand guide to Medicaid and how it relates to you the Caregiver and the person you are caring for, who I refer to as the Caregivee. 

What is Medicaid?

Medicaid is a health insurance program funded with state and federal … Read the rest

Does Medicare Cover Nursing Home Care Costs?

Medicare Part A provides limited coverage for skilled nursing care if certain requirements are met.   However, even if your care is Medicare Part A eligible, it only covers the cost of a skilled nursing facility for up to 20 days, with the possibility of an additional 80 days on a co-payment basis. The average nursing home stay is 2.4 years.

Beyond the limited time that Medicare Part A will cover care is the simple fact that it does not cover the majority of nursing home care because most residents of a nursing home do not require skilled care, which is a prerequisite for Medicare Part A coverage.… Read the rest

How to Save the Money Your Parents Worked For

Long-term care is not cheap.  In fact, it is down-right expensive.  The average annual cost of a nursing home room in the Cleveland Metropolitan area is $73,912.50.  Moreover, betting that your parents will not need long-term care is a gamble that your parents will certainly lose.  Seventy Percent (70%) of people over age 65 will need long term care during their lifetimes and no, Medicare won’t pay for it. Medicare doesn’t cover long-term care costs.  Even if a number of criteria are met Medicare only covers the cost of a skilled nursing facility for up to 20 days, with the possibility of an additional… Read the rest