Medicaid Asset Security Trusts 101 888011000 110888 MoneyTips
You may have saved vigilantly for retirement and handled your money well, but in the end, long-lasting care expenses can derail your plans and quickly exhaust your savings and other assets. According to LongTermCare.gov, average costs for 2010 were $6,235 and $6,965 per month for semi-private and private spaces in assisted living home, respectively. For the number of years can you afford to pay in the $75,000-$85,000 variety for your care? A one-bedroom assisted living facility is a bit less expensive, at $3,293 monthly on average (2010 values), approaching $40,000 annually. Considered that long-term care averages 2.2 years for men and 3.7 years for females, the chances are that you have insufficient resources to meet your long-term care requirements. Medicaid Is an Option Long-lasting care insurance is an alternative, however it is expensive and has constraints. Fortunately, Medicaid exists to get the rest of long-lasting care costs– however to become qualified for Medicaid, you can only have a …
