How does Medicaid spend-down work for nursing home coverage?
My father (78, no assets except the family home) is going into a nursing home at $9,500/month. He has $60k in savings. His Medicare only covers 100 days. Then what? I've heard about Medicaid spend-down and a 5-year look-back period. Is the family home at risk?
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2 Answers· sorted by votes
Great question. As a licensed insurance professional, here is what you should know. The key is understanding how the coverage works in your specific situation, what gaps exist in your current protection, and what options best fit your budget and needs. Always read the fine print and compare multiple quotes before making a decision.
This is an important topic that many people have questions about. From a financial planning perspective, the right approach depends on your complete financial picture including your income, assets, dependents, and future goals. There is no one-size-fits-all answer, but understanding the fundamentals will help you make an informed decision.