This sounds like a situation where it's too late to qualify for long-term care insurance. While LTCI can be a great product, and much more affordable when purchased in one's 50's vs. one's 70's or 80's, too often people do not even think about it until the person to be insured is already in a nursing home or diagnosed with Alzheimer's, etc., at which point the insurance company will reject the application.
In such situations, there are still some "crisis planning" techniques available to qualify for Medicaid and still protect a good portion, if not all, of a person's assets.
The new long-term care policies can be very good, but if depends very much on your age and state of health as to whether it's a good idea for you.
You may want to get some references from your state insurance agency so you know you are dealing with an honest agent, and then check out some policies. Move carefully, and if you need an estate or elder attorney's opinion, get it. You don't want to be paying for a policy that won't help you in the end. If you are young enough and in good health, it can be a good idea to look into it, however. Carol
Under the federal Medicaid rules, the at-home spouse (you) is allowed to keep up to $109,560, and the nursing home spouse up to $2,000. This is in addition to various exempt assets such as your home, one car, all personal property, and a few other items. If you and your husband have countable assets above these limits, then you either must spend it down on his nursing home bill or implement one of the many planning techniques available to protect some of your assets. What you should do will depend on the state you live in (the Medicaid rules vary by state), the amount of money you both have, his health, etc.
Planning for Medicaid eligibility can be a complex topic, one surely requiring the assistance of an experienced Elder Law attorney.
You may want to try Americans with disabilities (http://www.ada.gov/) for some help. Also, as was said, is he a veteran? Check with the VA, if so.
If he does need a nursing home, you will need to pay for it, of course, though if you are already on Medicaid, they will pay. You may find in-home care sufficient for awhile. In some areas veterans can get some in-home assistance. You also may want to try your state's Web sites under aging services and ask for information on services in your area. There may be many things that can be done before he needs a nursing home.
This is tough to go through. I hope you can find someone to help you. Carol
Is he a Veteran? VA Aid and Attendance Benefit is helpful/They will not be able to take everything if he can go on Medicaid /get a financial planner to help you sort out the options.
In such situations, there are still some "crisis planning" techniques available to qualify for Medicaid and still protect a good portion, if not all, of a person's assets.
You may want to get some references from your state insurance agency so you know you are dealing with an honest agent, and then check out some policies. Move carefully, and if you need an estate or elder attorney's opinion, get it. You don't want to be paying for a policy that won't help you in the end. If you are young enough and in good health, it can be a good idea to look into it, however.
Carol
Planning for Medicaid eligibility can be a complex topic, one surely requiring the assistance of an experienced Elder Law attorney.
--Gabriel Heiser, AgingCare.com Expert https://www.agingcare.com/authors/k-gabriel-heiser
If he does need a nursing home, you will need to pay for it, of course, though if you are already on Medicaid, they will pay. You may find in-home care sufficient for awhile. In some areas veterans can get some in-home assistance. You also may want to try your state's Web sites under aging services and ask for information on services in your area. There may be many things that can be done before he needs a nursing home.
This is tough to go through. I hope you can find someone to help you.
Carol