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Costs of long term care nowadays have increased gradually and many people are beginning to express great concern when talking about the issue. Particularly for individuals with average earnings, long term care has become more of a privilege – a privilege only people with great resources can afford. The rising costs of long term care have affected a lot of Americans which led them to seek assistance from state-funded programs such as Medicaid. However, there is a set of requirements a person needs to meet to be able to qualify for Medicaid eligibility. And to be able to qualify, in most cases, the person is obliged to exhaust all of his assets before Medicaid starts paying for the costs of care. Medicaid begins paying for long term care when a person no longer has the resources to pay for his own bills. To determine if an individual is qualified, Medicaid looks at assets, starting from funds in the bank up to other assets like a car and a house. An individual is also eligible if assets fall below $1,500 and his monthly income is less than his nursing home bill. The difference between the income and actual bill is paid by Medicaid. Once found eligible, coverage may start retroactive to any or all of the three months prior to application. If the individual’s state changed over time, coverage ends. In some states, there is additional ‘state-only’ program for those individuals with limited income and need medical assistance who do not qualify for Medicaid. The following are examples of individuals who are eligible for Medicaid: Pregnant Women If you are pregnant, you are eligible for Medicaid assistance. Whether you are single or married, you and your child are covered under the program. Children and Adolescents A child is eligible if he or she is a legal U.S. citizen or a lawfully admitted immigrant. The eligibility for children is determined on the status of the child and not of his or her parents. If your family income is limited, you can apply for Medicaid assistance if you are a parent or a guardian of a child age 18 and below. For teenagers, Medicaid assistance is also offered and other states provide coverage for children up to age 21. Specific Group of Individuals: Blind, Aged, and Disabled If you are blind, aged, or disabled, 65 years old and older with very limited income and resources, you can apply for Medicaid. Those who are terminally ill and require hospice services can also apply. However, Medicaid does not provide coverage for all individuals with limited income or resources, if you’d like to know more on what is covered and not, try visiting the nearest Medicaid department in your community. This way, you can ask questions and clarify the requirements needed to become eligible. There will definitely come a time when a person needs long term care, therefore, make to have a long term care plan the soonest time possible. Pick the most appropriate long term care policy as well. There will definitely come a time when a person needs long term care, therefore, make to have a long term care plan the soonest time possible. Pick the most appropriate long term care policy as well.
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