Liquidating assets before nursing home
Well, it did but the insurance company would not pay, citing an obscure loophole in the policy. He knew about Medi- care, Part A and Part B, for which he had signed up as soon as he had become eligible.
This came as a total shock, and all her planning was for nothing. He knew that Medicare was not panacea for all his needs.
It’s important to know right up front that Medicare will not pay for assisted living. There are a few other things you should investigate first.
Once you have lost that opportunity, it's often too late.
The cost of Assisted Living Facilities nationwide can vary from ,000 - ,000 per month.
He even had looked into various nursing homes because there existed a real possibility that his wife may have to be put up in a nursing home, as she was showing early signs of Alzheimer's disease.
He had carefully investigated various long- term care insurance plans, and after checking with the state insurance commissioner purchased a policy that made sense.
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Have you ever heard: “You need to know what you need to know before you can ask questions”?