Suppose an elderly or disabled person saved approximately $200,000 in their life time requires assistance at home (home care services), approximately twelve (12) hours per day, seven (7) days a week. If they employ a licensed home care agency it could cost them approximately $25 per hour and sometimes more depending on their needs. Lets do the math: $25 per hour times 12 hours equals $300 per day and if we multiply $300 by 30 days the elderly or disabled person will be spending approximately $9,000 a month. At this rate in less than two (2) years this individual is impoverished and does not have a rich uncle who is willing to pay their private home care services they are now forced to utilize Medicaid even if they don’t wish to join the program.
Lets consider the following facts:
1) An elderly or disabled individual can transfer any amount of money one month and become financially eligible the following month;
2) Protecting ones life savings and applying for Medicaid medical assistance allows the applicant to receive goods and services paid for by the money they had protected, which otherwise Medicaid does not pay for; and
3) The home care services which Medicaid provides or pays for are all private agencies. That means the care is the same as if they had paid for it privately.
Why would any elderly or disabled person wish to spenddown all of their life savings prior to applying for Medicaid medical assistance is both inconceivable and unimaginable.