When a spouse enters a nursing home, the cost of care can be financially devasting. Many families are simply unable to afford long-term care, without applying for Medicaid. To qualify for Medicaid, there are limits on the resources that an applicant may have. Resources include both income and assets.
Financial planning is daunting enough, but it becomes more complicated and critical when you have a child or family member with special needs.
The nation’s health expenditure growth is anticipated to average 5.5 percent annually from 2017 through 2026, compared with 4.6 percent through 2028 for Medicare’s per-capita spending.
So, you’re becoming concerned about your parents handling the challenge of driving and handling their finances. It is a tough issue for anyone. However, some