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ROBERT M. SLUTSKY ASSOCIATES OFFICE ADDRESS: ELDER LAW QUIZ 1. What is the average monthly cost of a nursing home in the Philadelphia Metropolitan Area? 2. What is Medicaid and how does it differ from Medicare? 3. Why is this significant for the average older adult? 4. How do you qualify for Medicaid services in a nursing home? 5. Can you get help to pay for the cost of assisted living services? 6. If you make a gift of money or property to a child, friend or charity and need nursing home care later, how long will that gift affect your eligibility for benefits? 7. If your spouse goes into a nursing home, how much will you be able to save to live on? 8. If you become mentally incapacitated and have no Agent, can your spouse make medical and financial decisions for you? IF YOU KNOW THE ANSWERS TO THESE QUESTIONS AND HAVE ADDRESSED THESE NEEDS, CONGRATULATIONS! IF NOT, CONSIDER THEM AS YOU PLAN FOR YOUR FUTURE AND THE FUTURE OF YOUR LOVED ONES. 1. The average cost of care of a nursing home in this area is anywhere from $7500.00 to $10,000.00 per month when the costs of extras are included. 2. Medicare is an entitlement. Any person who is 65 or older or is disabled under federal law for at least 2 years is entitled to Medicare, regardless of how much money you have or make. Medicare will only pay for a portion of 100 days for a nursing home and only for rehabilitation. Medicaid is health insurance for people who are poor. If you have more than a few thousand dollars, you will not qualify for Medicaid. Medicaid will pay for you to stay in a nursing home if you qualify medically and are poor enough. This means you have to use up almost all of your money for Medicaid to pay for you to live in a nursing home. 3. The average older adult does not have the income to pay $7500.00+ per month for their care. This means that without planning ahead your spouse in the community may be placed in a difficult financial situation and there will be no money left for your heirs. 4. You qualify for Medicaid by using up most of your money minus some protected resources. If you have a spouse in the community a few more things can be protected. Without planning, most of your assets will need to be spent. 5. Under current Pennsylvania law assisted living services are NOT covered by Medicaid. 6. If you run out of money and qualify for Medicaid, any gifts made within 5 years of your application could make you ineligible to receive Medicaid. 7. The spouse in the community can keep ½ of the family assets with a maximum of $104,000.00. The spouse can keep the family home and a car. If you have assets in excess of $104,000.00, they will need to be spent before the ill spouse will get benefits. 8. No. If this happens you will need to hire a lawyer and have a legal guardian appointed.
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