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Originally Posted by ROCKETMAN
I’m sure some of you have these questions or have actually experienced these circumstances. I am talking about Medicare nursing facilities, not private. Private ones run about $9000.00 a month so for me that’s out of the equation. Been to seminars where they tell you you can protect your assets including sale of your house and just your s.security will cover cost. A lawyer quoted me $5000 to do the paperwork. My lawyer who has done my wills in a phone conversation asked me why I would I spend $5000 and have no idea if I would or my spouse would ever go in a nursing home. You can fill out the paper work the day before you would go in or even after you go in. My lawyer does not charge like the ones in fancy offices, has a small office in a tiny strip mall in Eustis. Used to be in summer field but closed that one.
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Lots of good (and accurate) observations about what Medicare pays and doesn't pay. Bottom line though is that if you are in a nursing home beyond what Skilled Nursing will pay (90 day Medicare limit, back when I was in the game) anything above and beyond comes out of your pocket and, when your pockets are empty, the public nickel (i.e. Medicaid). Florida has a 60-month look-behind when Medicaid is applied for and as other posters have indicated there are penalties if they find you've hidden assets. There are ways around some of that (irrevocable trusts, some other things) but those have tightened up as well. Some folks do carry long-term care insurance but unless those policies are purchased when the purchaser was relatively young and healthy the premiums can be pretty hefty.
Suggest you might want to look at some options other than a Nursing Home. Florida isn't great when it comes to "other options" but they do exist, and are designed to keep people in the community for as long as possible. Services such as homemaker services, personal care (PCA) services, Home Health Aides, and the like may be available, with the beauty of them being that you don't have to empty your bank account to pay for them but basically pay as you need them.
Availability of services vary state by state, but it might be worth your while to contact The State of Florida Health and Family Services to see what is out there and what it takes to access services.