Top 5 Ways to Cut Nursing Home Costs

Top 5 Ways to Cut Nursing Home Costs

1. Make sure your loved ones have valid and updated financial powers of attorney, specialized for Medicaid planning. Online forms are usually not sufficient.
2. Don’t rush to sell mom and dad’s house or condo to pay for their care. Home ownership can be a fantastic way to protect family assets.
3. Dont’ let your parents make gifts and don’t take gifts from them.
4. Don’t beleive the nursing home when they tell you that you must pay, 6-12 months of private pay to ge mom or dad through the door.
5. Don’t sign any nursing home contract before you have an attorney review the contract