In this Elder Law Minute video, Wes Coulson answers a commonly asked question about Medicare supplemental insurance and its coverage for nursing home care.
Hi, I’m Wes Coulson and this is your Elder Law Minute. I want to answer today a question that we get pretty often and that is, “If I have a Medicare supplement insurance policy, is that going to take care of my nursing home costs?”
The answer by and large is no. A Medicare supplement policy will pay the Medicare deductible, which is right now $143.50 per day, for days 21-100 of a nursing home stay if it follows a hospital stay of at least three days, and if you are still receiving physical therapy or some other type of skilled care. But let me be really clear on this – having a Medicare supplement policy is not –not – a way to pay for long-term nursing home care. You either need to have a long-term care insurance policy or you need to have an asset preservation plan. Thanks!
For more on Medicare, visit these articles:
- Will Medicare pay for a Rehab stay in a Nursing Home?
- 4 Myths about Medicare and Medicaid Long-Term Care coverage
- Medicare Limited Benefits and Long Term Care Requirements
Coulson Elder Law is dedicated to providing families in the St. Louis area with their Elder Law needs. Our practice areas include Asset Preservation Planning, Veterans Benefits, Medicaid Eligibility, Alzheimer’s Planning, Special Needs Planning, Estate Planning and more. We understand the financial challenges you may face as you and your loved ones grow older. At Coulson Elder Law, our clients’ well-being is our number one priority. For immediate help, call (877)995-6876 or Contact Us and we will get in touch as soon as possible.