Baby boomers are faced with yet another challenge in life. Just as they are settling into retirement, they are settling into what may possibly be the greatest debate of the 21st century. The Medicaid debate is over this simple question: "Should people be forced to use all of their assets to pay for nursing home care before Medicaid kicks in or might they be allowed to shelter some of their assets?" This debate can easily be intense due to the passionate feelings involved from both parties. More than likely, no matter who you are, your dream of growing old hand-in-hand with your loved one does not include a nursing home.
However, the very true statistics prove that most families, an average of 60%, will in reality call the care facility their home. Those in favor of sheltering assets argue that they have contributed to the program throughout their working years and now they claim the money is owed to them since it is theirs' to begin with. After all their time spent to give their children all they can, they feel that their hard earned assets are being taken right out from under them and their children. Opponents say that the system will be bankrupt before long, that Medicaid was designed to assist the truly poor, and that the tax burden on future generations would be astronomical if all of the baby boomers demanded benefits to match their contributions. Supporters claim that having a spouse in a nursing facility should not force the other spouse to live in poverty as it now does. However, it is claimed by the opponents that you loved and lived with your mate through all these past years, it is not the time now to decline looking after your spouse when they need you the most.
That's the way it is. Planning has to be done at early stages, which everyone has to agree with in principle. Long-term care insurance should certainly be considered while you are healthy enough to purchase it. If, by some misfortune, long-term care insurance cannot be considered an option but you still want to preserve your personal assets, then the best advice is to seek professional, competent help immediately.
Do not delay. Find an authorized representative within the company that is willing and able to carry out all that is needed with Medicaid to ensure that you are relieved of the stresses of keeping up with the government regulations that are subject to change often. It is important that you take the time to select a company that has had vast experience working with Medicaid and will offer you the flexibility you need. Find a company that will personalize a strategy for protecting your assets while being sensitive to the needs of you and your family. To provide protection for your family and assets, you should take action immediately.
Call around; you'll see in the end that it's worth it.
Mark Possones decided that it was time to start planning for the future. Watching his parents lose the earnings for nursing help he researched about medicaid spend down, long term care facilities and the Medicaid benefits, he got help ? a company that guards his assets and guarantees acceptance into the Medicaid system.