Medicare does not pay for long-term care, except for 100 days of rehabilitation in a nursing home. Nursing home care falls primarily to Medicaid, the jointly funded state and federal program. The program now is shouldering 40% of the country's long-term-care spending, according to the Kaiser Family Foundation. To be eligible for Medicaid in Maryland, can have no more than $2,500 in cash and investments. (Spouses are allowed to keep a home, a car and up to approximately $110,000.) In the past, regulators looked at any gifts you made up to three years before applying for Medicaid. However, in 2006,…
However, there are no right and wrong answers in choosing either LTCI or MT. Each client has their own situation, concerns, preferences, circumstances, and financial issues. The key is protecting your assets from the nursing home cost.
Frederick, MD 
301-663-9230
