Medicaid Urban Legends

Jeremiah 6:16  says “ This is what the Lord says: ‘Stand at the crossroads and look; ask for the ancient paths, ask where the good way is, and walk in it, and you will find rest for your souls.’” A lot of people planning for long-term care don’t ask where the good way is.

This week, Hans and Robby discuss misconceptions, or urban legends, surrounding how Medicaid pays for long-term care. While Medicaid will pay for long-term care, it takes a lot to get to this point, and giving away all your money is not going to automatically qualify.

Medicaid-paid long-term care can also take away choices from you. You will not be able to choose what facility you are in or even where this facility is located. You could be put hours away from your family. Robby talks about a friend he has who is using Medicaid to pay for long-term care who does not even have access to a phone to talk to his friends and family anymore.

A major part of finishing well is having choices - you want to choose where you are going to live, choose the care that you get, how your family gets your money, what food you get to eat, and so much more.Good, sound financial planning, especially surrounding long-term care,  is going to provide you these future choices.

Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!

You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.