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Nursing Home Costs
Protecting assets from nursing home costs is the goal of many people. Currently the average monthly cost of a nursing home in Pennsylvania is $7,901.03, according to the Pennsylvania Department of Public Welfare. If you add in the cost of prescriptions, the cost is even higher.
Nancy Busch can help you plan to protect from these costs. The law allows you to do so, whether you need to be in a nursing home, receive care at home or a combination of the two. Nursing homes will offer you assistance with your financial details but they are not elder lawyers and are not trained to advise you properly. The other problem is that nursing home office managers want you to pay the nursing home out of your assets as long as possible rather than qualify for Medicaid. They may not understand the fine nuances of the assets you can keep or when is best time for you to apply for Medicaid.
Mistakes can cost many thousands of dollars. You should get professional advice from an elder lawyer who works with these issues day in and day out and knows how to protect your interests. Nancy Busch will use her skills and knowledge to protect you and your family’s’ lifetime of savings.
| 2012 Pennsylvania Medicaid Numbers | |
|---|---|
| Minimum Community Spouse Resource Allowance | $22,728 effective January 1, 2012 |
| Maximum Community Spouse Resource Allowance | $113,640 effective January 1, 2012$113,640 effective January 1, 2012 |
| Minimum Monthly Maintenance Needs Allowance | $1839 per month effective July 1, 2011 (increases to $1891.25 July 1,2012) |
| Maximum Monthly Maintenance Needs Allowance | $2,841 per month as of January 1, 2012 |
| Shelter Standard | $552 per month as of July 1, 2011? |
| Utility Allowance, including heat | |
| Utility Allowance, non-heating | |
| Utility Allowance, phone only | |
| Medicare SNF co-insurance amount | |
| Average cost of Pa nursing facility | |
| Excess Home Equity Limit for 2012 is | $525,000 |
| Home Maintenance Allowance | $720.10 per month (six month limit) |
| PDA Waiver Program Income Limit | $2,094 |
Nancy Busch will carefully listen to your concerns, review your financial goals and offer you various options designed to suit your objectives. She will assist you through the entire matter and will review it with you of the matter and review it with you to make sure you understand it.
IS IT TOO LATE TO PROTECT ASSETS?
Most people think there that assets had to be given away years before the person was admitted to a nursing home. However, it depends upon the particular case. The law still allows us to protect assets in many cases. In the case of a married couple, Nancy Busch can often increase the income that the spouse at home will receive and help the couple to shelter whatever savings that the law allows. Whether it is an individual person or married couple, Nancy Busch will work with them through the Medicaid application process so that you can rest assured that your rights are protected.
PA LONG-TERM CARE STATISTICS
- PA has almost 2 million citizens age 65 and older.
- PA ranks fourth in the US by percentage of the population age 65 and older and 1 in 5 Pennsylvanians are 60 or older.
- PA also ranks 4th in the US by number and percentage of population 85 and older by 2020 PA 60 and older population is expected to be 25% of the total population. More than 3 million people by 2020 the number of people age 85 or older is expected to grow to more than 360,000 residents.
- Nearly 70,000 of those turning 65 this year will eventually require long-term care in their lifetime. 2006 congressional quarterly report
