Families have more than one option when it comes to paying for Long Term Nursing Home Care. Certainly, one of those options is paying privately from personal assets and income. The cost of Long Term Nursing Home care in the state of Florida currently ranges between $8,000.00-$10,000.00 per month; in excess of $100,000.00 per year.
There are several situations where it can make sense to Private Pay for a Nursing Home visit:
- When the applicant is almost certain to recover within a few weeks rather than many months.
- When the applicant is almost certain to pass away in weeks rather than months.
- When assets are so substantial that no asset depletion will occur by paying the $8,000.00-$10,000.00 per month for Nursing Home care.
- When there are no relatives or favored charities that the Nursing Home patient desires to leave their assets to.
Many families to whom the above DOES NOT apply, but desire to preserve as much of the loved one's hard earned assets as possible, have chosen another option available in the state of Florida; Asset Protection and application for Long Term Nursing Home Care benefits through the Medicaid Institutional Care Program. By far, Medicaid is the most common source for funding the cost of nursing home care in every state including Florida.
Our group of professionals take a consultative approach. We will never suggest actions that do not have a direct benefit for the applicant and/or applicant family.
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