Medicare pays for a maximum of 100 days while a person is in a skilled care facility. This coverage is only available if the person spends three days in a hospital prior to entering a skilled care facility. Medicare pays for all of the expenses incurred in the first 20 days. The next 80 days the individual must pay a deductible of $97 a day. If the patient has a supplemental Medicare policy it will pay the deductible. After the 100-day period Medicare and the supplemental policy pays nothing.
The asset limits to be eligible for Medicaid vary. There are three classes of assets: exempt, non-exempt and unavailable. The following list of assets is for a single applicant unless otherwise noted.
- A. Personal residence. This includes a duplex, farm, or other property that is considered to be a personal residence.
- B. $2,000 in assets
- C. An automobile of any value for a married couple. If applicant is not married then the automobile cannot have a value greater than $4,500.
- D. Life insurance policy with face value not exceeding $1,500.
- E. Burial assets are now considered exempt regardless of the amount and items set aside for burial. This means that the person can have a burial policy or pre-paid funeral expense of any value.
A married couple, on the other hand, can have all of the above plus an additional amount of exempt assets as follows:
Total Countable Assets
- A. $0 to $50,000 Community spouse asset share - All of the couple's total assets up to $50,000
- B. $50,001 to $100,000 Community spouse asset share - $50,000
- C. Over $100,000 Community spouse asset share - One half of the assets not to exceed $84,120 Application for Medicaid is made at each county's Department of Health and Family Services where the person's skilled care facility is located, not their county of residence.
- Sodexo Senior Services
- Caring Communities
- Hamlin Capital Management
- Presbyterian Foundation