Nursing Home Fees & Costs

What Programs (like Medicare and Medicaid) are Available to Help?

There's no doubt that nursing home costs can be expensive. That's why so many people in nursing homes need help paying for their expenses. Luckily, there are ways to help offset the costs of nursing home care. Medicare is a state and federal program which may help cover the costs of nursing home care if you choose a facility that is supported by Medicare. Medicare Part A is the coverage you will need to pay for your nursing home costs, while Medicare Part B pays for doctor visits, diagnostic care, medical equipment and more.

Medicaid, on the other hand, is another federal/state program which may help you pay for nursing home costs. Medicaid is often available for low income individuals and families who do not have any other coverage and who cannot afford their medical costs. In order to qualify for Medicaid, you must be able to provide verification that you are eligible for Medicaid benefits. Verifications may include check stubs, bank statements, benefits statements and other statements which reflect your assets.

If you have questions about coverage or want to apply for Medicare or Medicaid, you will need to contact your local Department of Social Services. In some states, you will need to contact your local Health and Human Services or state welfare office. You will be assigned a caseworker who can answer all your questions and walk you through the application and verification process step by step. Then if you are approved for coverage, your caseworker can explain how to use your benefits and what exactly is covered under your plan.

For individuals who are not eligible for Medicare and Medicaid there are other options. If you need to place your loved one in a nursing home, you might be able to borrow against the equity in your home. A home equity loan or line of credit can help you pay for expensive nursing home costs. As you can see, there are a variety of ways to pay for nursing home care if you do not have the money available.