Know the Truth: Debunking the Most Common Medicaid Myths
The federal Medicaid program offers important benefits for individuals and families across the United States. However, there are many myths surrounding the program, causing many people to miss out on benefits they might otherwise be able to receive. The following are a few of the most common Medicaid myths and the truths behind them:
MYTH: Medicaid will cover a whole nursing home bill
Medicaid only covers a small portion of the nursing home care provided throughout the United States. You’ll get 20 days of full coverage through Medicare (a different program) if you have spent at least three days in the hospital and need skilled care during your stay. Then, if you’ll still have a need for skilled care, you may get a maximum of 80 days of partial coverage through Medicare.
After that, you will either have to pay through your savings, your long-term care insurance or by applying for Medicaid benefits.
MYTH: You will receive better healthcare if you pay privately
There are federal laws that prohibit discriminating against Medicaid patients. If you use Medicaid to receive treatment, you will receive the same standard of care as anyone else.
MYTH: You have to lose or give up almost everything you own to qualify for Medicaid
Actually, you are allowed to own certain types of exempt property and still be eligible for Medicaid. In some situations, this may include a house or motor vehicle. There are other items that Medicaid does not count, as well. You just need to understand exactly how the rules apply to your circumstances.
MYTH: Only nursing homes that provide substandard care participate in Medicaid
The vast majority of nursing homes provide care under Medicaid. It is simply not true or fair to portray nursing homes that participate in Medicaid in a negative light.
MYTH: You may become eligible for Medicaid by putting all your property in your spouse’s name
All of your assets are counted, regardless of which spouse is on record as the owner. If either spouse’s name is listed on any of your property, it is included for Medicaid purposes, even if there’s a prenuptial agreement in place.
If you would like to learn more about your options when it comes to long-term care, consult a skilled Florida Medicaid planning attorney with The Charles Law Offices.