MEDICAID PLANNING IN TENNESSEE

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Do you want to protect your future and your assets in the event that you ever need long term care?  Are you considering a nursing home, assisted living facility or other long-term care for a loved one?  Do you know that Medicaid pays for both in home health care and 24 hour care in a facility?  Do you think there may be a time when you or your parent may need help in your home and wonder how you will pay for it?

Most families cannot afford to pay for long term care privately and do not have any or adequate long-term care insurance.  Many families plan for their retirement and make estate plans but neglect to make plans to protect their assets should they need long term care.   Also, most families dramatically underestimate the cost of long term care. 

Home health care aides wages are often around $20 per hour or $60,000 per year and home health nurses or skilled care nurses salaries average $90,000 per year.  Many families want to keep their loved ones at home, however they simply need help.  The Tenncare CHOICES program can provide personal care visits, home delivered meals, respite care to give the caregiver rest, minor home modifications and many other benefits.  

The average cost of a skilled nursing facility in Tennessee costs over $7,000 per month. Some people only need to stay in a nursing home for a short period of time but most stay for much longer as they need 24 hour care that their families cannot provide.  Medicare does not cover an extended stay in long term care leaving families to pay it out of pocket, with long term care insurance or through Tennessee's Medicaid  Tenncare program.  

An elder law attorney can meet with you and your family to develop a plan to protect family resources should you or a loved one need long term care.  

By planning at least five years before care is required, you have more options for the preservation of assets.  However, even if the need for care is immediate, there are still likely many asset preservation strategies depending on your unique situation.  Meredith Silva advises families on how to protect assets from Tenncare, Medicaid's program in the State of Tennessee.  She advises families on spend-down strategies and tactics to prevent spousal impoverishment should one spouse need Tenncare.  She also guides families through the Tenncare application process.   

For assistance with Medicaid Planning and application, contact Nashville elder law attorney Meredith Silva via email at meredith@msilvalaw.com or call her at 615-258-5541.