Word: medicaid
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...problems is the very freedom from regulation that makes assisted living so attractive. This has allowed operators to cater to the aesthetic desires of their customers--to sport plush carpeting where nursing homes have only linoleum--and still keep costs down. The average nursing home, funded largely by Medicaid, costs nearly $4,000 a month. The average assisted-living facility, where residents typically pay out of their own pocket, costs about $1,800 a month. Disparities in regulation, though, leave seniors vulnerable to huge variations in everything from the quality of food to the number of registered nurses available. Most...
Consumer advocates say their best hope for enhanced regulation may be Medicaid, the government assistance for poor elderly that is widely used to pay for nursing homes. Forty states now allow Medicaid to be used for assisted living, but providers have been reluctant so far to accept the money. Their need to fill beds, however, has made them more receptive--and the change has caught the eye of federal lawmakers. Last week the Senate Special Committee on Aging brought together representatives from both the industry and consumer groups and asked them to agree on ways to improve care...
Aside from death, there are few prospects more frightening than an old age in which your health is poor and your finances worse. The number of LTC policies has doubled in the past five years, as people recognize that Medicaid will cover them only after their assets have been "spent down." LTC insurance is a relatively new type of policy that, at its best, covers many types of extended care: at home with an aide or a family member, in an assisted-living facility, at an adult day-service center or in a nursing home. "With a private, long-term...
...insurance is not for everyone though. The rich can pay for their own care. The poor can go on Medicaid. LTC is most attractive to people of means--just not means enough to afford nursing-home costs, which average $56,000 a year. The USHC recommends that LTC-insurance candidates have at least $75,000 in assets in addition to a home, as well as $25,000 in income for singles and $35,000 for couples...
...Anyone who’s being employed by the University should not be so poor that they are eligible for Medicaid,” Bartley said. “They should be ashamed...