"Deliberately reducing a person’s income and savings to qualify for Medicaid can sound daunting.
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"Deliberately reducing a person’s income and savings to qualify for Medicaid can sound daunting. But without planning, the high cost of long-term care can quickly drain savings anyway. Assisted living and nursing home care can cost thousands of dollars a month, often forcing families to exhaust their resources before qualifying for assistance."
A Medicaid 'spend down' may get an older person long-term care coverage but isn't a DIY strategy
Many older Americans end up relying on Medicaid for long-term care because Medicare rarely covers daily help like bathing or eating.
AP News (apnews.com)
#healthcare #medicaid #medicare #NursingHome #SkilledNursing #HomeHealth #aging #PersonalFinance
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"Deliberately reducing a person’s income and savings to qualify for Medicaid can sound daunting. But without planning, the high cost of long-term care can quickly drain savings anyway. Assisted living and nursing home care can cost thousands of dollars a month, often forcing families to exhaust their resources before qualifying for assistance."
A Medicaid 'spend down' may get an older person long-term care coverage but isn't a DIY strategy
Many older Americans end up relying on Medicaid for long-term care because Medicare rarely covers daily help like bathing or eating.
AP News (apnews.com)
#healthcare #medicaid #medicare #NursingHome #SkilledNursing #HomeHealth #aging #PersonalFinance
@bich obviously this is a shit system & move.
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@bich obviously this is a shit system & move.
It's a strategy I hear about so often that I don't even think about how terrible it is.
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It's a strategy I hear about so often that I don't even think about how terrible it is.
@bich because it's normalized to hate people who need help in the US?
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"Deliberately reducing a person’s income and savings to qualify for Medicaid can sound daunting. But without planning, the high cost of long-term care can quickly drain savings anyway. Assisted living and nursing home care can cost thousands of dollars a month, often forcing families to exhaust their resources before qualifying for assistance."
A Medicaid 'spend down' may get an older person long-term care coverage but isn't a DIY strategy
Many older Americans end up relying on Medicaid for long-term care because Medicare rarely covers daily help like bathing or eating.
AP News (apnews.com)
#healthcare #medicaid #medicare #NursingHome #SkilledNursing #HomeHealth #aging #PersonalFinance
@bich The bureaucracy is designed keep people poor and uncertain of their future. You can't escape it because you'll always have too much money or too little, never finding a middle ground as the process is intended to be demoralising and draining.
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A former insurance executive teaches health care financing where I work and I always appreciate his slide that shows the complexity of the system. All of the different stakeholders have figured out how to get reimbursed/make profit off the status quo. Rather than fix and simplify the system, it's easier to fight any changes to it.
The system is designed to get the output it wants!
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@bich The bureaucracy is designed keep people poor and uncertain of their future. You can't escape it because you'll always have too much money or too little, never finding a middle ground as the process is intended to be demoralising and draining.
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A former insurance executive teaches health care financing where I work and I always appreciate his slide that shows the complexity of the system. All of the different stakeholders have figured out how to get reimbursed/make profit off the status quo. Rather than fix and simplify the system, it's easier to fight any changes to it.
The system is designed to get the output it wants!
@bich @Darkphoenix yeah, cuz #ForProfitHealthcare is designed to maximize costs...
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