Aging in place may require Medicaid coverage

On Behalf of | Feb 13, 2024 | Medicaid Planning And Asset Protection |

Some New Jersey residents recognize when planning for retirement that they may require Medicaid. A family history of Alzheimer’s disease or serious age-related decline might inspire someone to plan for nursing home care. They may have already experienced medical struggles that make them worry about their health later in life.

Many New Jersey residents require Medicaid to cover the costs of treatment in a nursing home. Others may aspire to age in place instead of moving to a professional care facility. Aging in place usually involves someone trying to live in their home indefinitely as they grow older. Planning to age in place often requires that someone make modifications to their home and arrangements for in-home support. Medicaid planning could be part of that process as well, as older adults might need nursing support that Medicare won’t cover.

In-home support is expensive

It costs thousands of dollars a month to live in a nursing home even if someone shares a room with another resident. It can also cost hundreds of dollars a day for an older adult to have a nurse visit them in their home to provide them with care support. Even non-licensed home health care workers could charge someone thousands of dollars a month for the services they provide.

Nurses are particularly helpful in scenarios where people require certain medications or in-home treatments, like dialysis. Home health care workers can assist with cooking, hygiene needs and even home maintenance. Some people may require the assistance of both a nurse and a home health care professional to optimize their comfort and safety during their golden years.

If an older adult does not have enough capital set aside to cover those expenses on their own behalf, then they either need to qualify for Medicaid or risk not having the help they need to make independent living feasible during their retirement years.

Those who understand what Medicare covers versus what Medicaid may pay for can more easily plan to secure the resources they need as they age. Planning ahead to qualify for Medicaid and preserve personal assets can be a smart move even for those who hope to live in their own homes for the rest of their lives.