Funding Long term/custodial care

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Funding Long term/custodial care

Postby NickM » Thu Jan 02, 2014 4:29 pm

Hello family,

My dad was diagnosed with PSP on December 26th, 2013 at the age of 72. As you can relate, crushing news. That said, this forum has been a tremendous source of information. Thank you for your participation.

On my mind has been financing his needs for the future, particularly in-home aide for daily activities of life; bathing, grooming etc. It seems to me unless one is a Medicaid recipient, sufferers are not eligible for such custodial care.

I would appreciate any input on how anyone has financed the care of their loved one. Medicare Advantage plans nor supplement programs seems to exist that support such care.

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Joined: Sun Dec 29, 2013 10:21 am

Re: Funding Long term/custodial care

Postby Robin » Thu Jan 16, 2014 2:14 pm

Financing has been done through:
* wealth/assets held by the person (if the person was lucky enough to have some savings)
* long-term care insurance (if the person was lucky enough to sign up before being diagnosed)
* reverse mortgage on a home
* selling assets (especially a home)
* seeing an attorney to plan to be put on Medicaid at some point in the future
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Location: USA - Northern CA

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