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- How likely am I to ever be in need of Nursing Home Care?
- What is the average annual cost of Nursing Home Care?
- If I have Medicare, will Medicare pay for my needed Nursing
Home Care costs?
- Is there another way I can get the Nursing Home Care costs covered?
- How do I know if I qualify for Medi Cal funds for long term
care in a Nursing Home?
- Will I have to sell my home in order to qualify for Medi Cal?
- Can our investments, stocks and bank accounts be protected?
- Can I give my money away to family members or friends?
- What is the best way for me to protect my assets and qualify
for Medi Cal to pay for the long term care for myself or my family
member?
| Question: |
How likely am I to ever be in need of Nursing
Home Care? |
| Answer: |
Your chances are 1 in 3 that you will need nursing home care
once you reach the age of 65. |
| Question: |
What is the average annual cost of Nursing Home
Care? |
| Answer: |
The cost of Nursing Home Care per year depends upon where
you live, but can be expected to run between $50,000 and $60,000
per year. |
| Question: |
If I have Medicare, will Medicare pay for my needed
Nursing Home Care costs? |
| Answer: |
No. Medicare will only pay for skilled nursing and then only
if you arrive at the Nursing Home directly from a minimum three
day stay in a Hospital. Even then, the maximum time limit covered
is between 20 100 days and after that, you will pay the larger
portion of the expense until Medicare coverage ceases altogether. |
| Question: |
Is there another way I can get the Nursing Home
Care costs covered? |
| Answer: |
Yes, there is. It is called Medi Cal. So long as you meet
the requirements for Medi Cal, your Nursing Home Care costs
can be paid for by Medi Cal funds. |
| Question: |
How do I know if I qualify for
Medi Cal funds for long term care in a Nursing Home? |
| Answer: |
The fastest and best way to find out if
you qualify is to consult with Ms. Tabi Katouzi, Founder of
Medi Cal Advisors, as hundreds of people with similar problems
to yours have done. The Medi Cal law that passed in 1996 opened
the door for a great many Californians to become eligible for
financial help with medical bills. But the laws and regulations
are complex. Ms. Katouzi knows these regulations thoroughly
and she has a 100 per cent success rate. |
| Question: |
Will I have to sell my home in order to qualify
for Medi Cal? |
| Answer: |
No, you do not have to sell your home or car. Whether married
or single, your home and car are exempt assets for Medi Cal
eligibility. There are legal steps that must be done to protect
your property against future claims by Medi Cal, but these are
not difficult and can be handled as part of the process of ensuring
you gain maximum benefit to which you are entitled. |
| Question: |
Can our investments, stocks and bank accounts
be protected? |
| Answer: |
These might be able to be protected. There are legal ways
to convert your non exempt assets into exempt assets. It all
depends upon whether you are married or single. For instance,
the law allows the non institutionalized spouse to keep up to
$90,660 of the liquid assets (in the current year, i.e. 2003). |
| Question: |
Can I give my money away to family members or
friends? |
| Answer: |
Generally, no. There are, however, ways to make limited gifts
to certain family members. This is an extremely sensitive area
of planning and should not be done without consulting with an
expert advisor. |
| Question: |
What is the best way for me to protect my assets
and qualify for Medi Cal to pay for the long term care for myself
or my family member? |
| Answer: |
Meet with Ms. Tabi Katouzi and enlist her help. She will legally
ensure the protection of your assets while maximizing your benefits
from Medi Cal, and she will provide for you a superior product
at a cost to you that is lower than others you could retain. |
If we haven't answered your question, call 1-800-411-0584
for more answers!
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