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Medicaid (TennCare) Planning

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You may be under the mistaken impression that Medicare will pay for long term care if you have to go into a nursing home. After a 3 day hospital admission, Medicare will pay for 20 days of nursing home care and then may pay for part of the next eighty days. After 100 days, Medicare pays nothing!

People who enter a nursing home usually pay for it in one of three ways; (1) with their own resources, (2) with long term care insurance, or (3) with government assistance–Medicaid, called “TennCare” here in Tennessee. Generally only the well-to-do can pay for an extended period of nursing home care with private resources, because nursing home care can be very expensive.

The average daily private room rate in a nursing home is $79,935 annually. The cost of a semi-private room averages $72,270 annually. Over 40 percent of the general population will eventually need to stay in a nursing home.

The good news is that an Elder Law Attorney may be able to protect some of your resources. The law allows you to preserve assets for your healthy spouse so that he or she is not impoverished if you need nursing home care.

Advanced planning, five years ahead of care needs can preserve most of your estate.

If you didn’t plan before, it’s not too late. Ms. Moss can help you preserve assets by using current law to limit your liability should you need nursing home care. She can also prepare spreadsheets that will answer the vital question: “Do I have enough money for my care?”

Ms. Moss conducts a comprehensive analysis of all possible benefits and coverage as part of a TennCare Asset Protection Report and recommends ways to maximize your care options and minimize your costs.

Ms. Moss can also help you with care planning by directing you to experts in the senior care field, so that you can get the care you need.

Contact us immediately if you want to protect your assets for the future or if you have been told that you or a loved one needs nursing home care.