Medicaid is a state and federal program that assists with healthcare costs for people with limited means. That definition is intentionally broad and does not begin to explain what it can do for you. People in the later stages of life may not have ever developed a plan to pay the extravagant costs associated with long-term care, which could easily be upwards of $7000-8000 a month, if not more.
With that in mind, Medicaid appears to be the program that enables them to pay for the care they need. That is why we receive this question: Do I qualify for Medicaid? Although that is an important question, it doesn’t take into account that there are many Medicaid programs here in Florida. Then the next question you may have is which program is right for you.
At the Family First Firm, we narrowed down the list for you. We focus on the two programs that help seniors cover the costs associated with long-term care. The first one pays for a nursing home almost entirely. This is the Institutional Care Program (ICP). It can pay for:
- All of your medical expenses at the nursing home (or institution)
- On-site doctor visits
- Part B premiums (monthly fees)
- Medical care is given to you outside of the facility (i.e., the hospital)
- Costs associated with food, activities, and hygiene
- Physical therapy
And those are just some of the examples of what the ICP pays for. The other program we focus on is the Medicaid waiver program. This contributes to in-home care, adult daycare, and assisted living care. It is meant to help seniors outside of the nursing home. This one is different insofar that it contributes a small portion towards the cost of your care. You will be expected to pay the difference of whatever it does not cover. It will not pay for:
- Medical expenses
- Hospital visits
- Part B premiums
Family First Firm
Together, we can find and apply for the program that potentially saves you hundreds of thousands of dollars. Anyone who faces long-term care needs has the added challenge of paying the significant costs associated with these facilities. To compound the issue, these needs surface later in life when you are not generating a large.
However, there are solutions available to you, and we will help you find them. Contact the Family First Firm today to set up your consultation.