Medicaid for Seniors

Written by Collett P. Small, Esq. on . Posted in Estate Planning

Medicaid is a significant resource for many seniors as it covers the cost of long-term care for
illnesses such as Alzheimer's, or paralysis caused by a stroke as well as other expenses relating
to nursing home care. Nursing home care is very expensive and can quickly eat up a senior's
lifelong savings and assets, rendering them unable to pay for the cost of their care. Depending
on where you reside nursing home care can cost upwards of $100,000 a year. Consequently,
most people who require long-term skilled nursing care must eventually apply for Medicaid.