How do I pay for a nursing home?
We get this question a lot because nursing homes are expensive, and the first bill can be shocking–$20,000 for one month of care is scary to think about paying for any duration of time. That’s why the skilled attorneys at the Law Group of Iowa work with you to create a plan and strategy for bringing down those costs as dramatically as possible. We have experience and an excellent report working with caseworkers at the Iowa Department of Human Services [DHS] to help get our clients the solutions they need.
There are many different things to consider, including monthly income (from all sources), eligibility for Veteran’s benefits, total assets, marital status, children, pre-paid funeral arrangements, life insurance policies, long-term care coverage…the list goes on, and we are here to help you understand the process. We pride ourselves on being thorough, staying up to date on all statutory and regulatory changes that may affect our clients, and always providing compassionate counsel.
Medicare and Medicaid are enormous and oftentimes burdensome programs that require the advice from an attorney. There are also issues related to IRS tax codes, estate planning, and probate issues that many attorneys don’t realize. That’s where the experts at Law Group of Iowa come in to assist you through the process. We work with accountants, Medicare specialists, and other experts to create the most effective and customizable plan for you and your loved ones.
The process is enormously confusing for almost all non-lawyers. But that’s ok and where we come in to help! The attorneys here understand the complexities of each of the many laws involved in creating a plan for paying for your nursing home stay. Medicare is purely federal law, whereas Medicaid is a mix of both federal and state law…estate planning is mostly state law, but then there are IRS codes that must be abided by, as well as the State Department of Revenue. Trusts and other mechanisms require constant monitoring, but if done correctly, can help achieve all of your nursing home needs.
Remember, every person’s situation is different—and we appreciate those differences. Whether you are a long-time farmer, a teacher, a nurse, a doctor, or in the service industry—we have options, plans, and strategies for everyone that contacts our office.
Yes, we will have to consider different types of power of attorneys, wills, trusts, living wills, and other documents to help ensure your goals are reached. We are proud to help Iowans and help them achieve their goals in retirement!