You may have to decide to put a loved one in a nursing home or assisted living facility if they require ongoing care or have recently declined in health. Families sometimes worry more about finding a way to pay for the high costs of long-term nursing care than they do about the emotional response.
If you're reading this, you're likely determined to avoid living in a nursing home. Everyone wants to stay at home and be healthy. Unfortunately, unpredictable events may occur, like falls, strokes, or sharp declines in health, and one has to leave the comfort of home and visit a nursing home. So, it becomes important to know the Florida Nursing Home Medicaid Rules and take expert guidance so that your application isn’t rejected.
Medicaid covers the cost of nursing home care, but the Florida Nursing Home Medicaid Rules may be confusing to individuals who don’t deal with them for a living. Medicaid coverage is crucial because the average cost of skilled nursing care in Florida is $109,686 annually. There are 697 nursing facilities in Florida, most of which accept Medicaid coverage as payment.
Before applying for Medicaid, knowing the Florida Nursing Home Medicaid Rules is crucial.
Medicaid's coverage comes with some eligibility thresholds, and knowing them is vital for you. Below are some of the program's requirements that you must know:
Level of care needed: Nursing home care is necessary when a loved one needs medical attention due to physical condition, mental state, physical limitations, or vulnerability. It demands the attention of skilled professionals like nurses, physical therapists, and occupational therapists.
Income threshold: Medicaid comes with an income limit for eligibility. While residents are allowed a small portion of their income for personal expenses, their overall income must stay under the income limit. For instance, in 2023, the Florida income limit is $2,742 per month, with an additional personal needs allowance of $160 per month. Knowing the Florida Nursing Home Medicaid Rules makes you better positioned to proceed. If your income crosses the limit, a qualified income trust can be used to gain Medicaid eligibility.
Asset threshold: Assets are also subjected to limitations. Single applicants may only possess up to $2,000 in countable assets, while married couples can have about $150,000 in combined countable assets.
Even when eligible, being admitted into a nursing facility can be challenging. Many facilities may not accept Medicaid payments.
Platinum is aware of and compliant with current law and has a team of experts who can guide you through the Florida Nursing Home Medicaid Rules and help you apply for long-term care benefits in a nursing home.