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.

Regards,
Nick
NickM
 
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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
Robin
 
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Joined: Fri Feb 20, 2004 2:32 am
Location: USA - Northern CA


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