Largo Nursing Home Planning Attorney

There are nearly 700 licensed nursing homes in the State of Florida serving around 71,000 residents at any given time, according to the Florida Health Care Association. The cost for such care is not cheap. The median cost for a private room in a nursing home is roughly $100,000 per year.

Even if you have carefully saved all of your working adult life, there is a good chance you will still come up short when it comes to paying for a nursing home in your golden years. By working with a qualified Largo nursing home planning attorney right now, you can put yourself in a better financial and emotional position when the time comes. William Rambaum is a Florida Board Certified Elder Law Specialist who has been assisting Pinellas County residents plan for their nursing home needs for over 35 years. He can sit down with you, review your current financial situation, and help you in developing a plan to ensure you will be able to receive the long-term care you need.

How Do I Pay for a Nursing Home in Florida?

One thing to keep in mind is that you are not alone when it comes to worrying about paying for nursing home care. By some estimates, more than 60 percent of seniors require some sort of financial assistance. Since Medicare does not cover the cost of long-term nursing home care, many Largo residents must instead turn to other programs, including their Social Security benefits, veterans benefits, and especially Medicaid.

Florida’s Medicaid program is a federal-state partnership that assists low-income seniors in paying for nursing care. In order to qualify for such benefits, however, you must meet certain strict criteria, including:

• You must be at least 65 years old, or have another qualifying condition such as a disability;
• You must be a resident of Florida and a United States citizen or legal immigrant;
• Your monthly income cannot exceed a specified limit ($2,829 per month for a single person as of 2024);
• Your total assets cannot exceed $2,000 (or $3,000 if you are married and your spouse is also applying for Medicaid).

Not all forms of income and assets are necessarily counted towards Medicaid’s limits. With careful nursing home planning, you may be able to convert most of your countable assets into non-countable assets. This can enable you to keep more of your property–or leave it to loved ones–while ensuring that Medicaid will still pay for your nursing home care.

Contact Largo Nursing Home Planning Lawyer William Rambaum Today

Few people want to take the time to think about someday living in a nursing home. But if and when the time comes, you will be in a much stronger emotional and financial position if you take the time to plan ahead. If you would like to speak with an experienced Largo nursing home planning lawyer, call William Rambaum today at 727-781-5357 to schedule an appointment.