Mom is almost 96 with dementia. I paid for LTC for her and it will be coming to an end in 3 months. She has had a live in aide for the past 2 1/2 years. It enabled her to stay in her apartment and we were very lucky to have had a wonderful woman stay with her. My concern is what will happen 6 months from now. Mom's only asset is one bank account. The options are to use up her bank account to continue to pay for in home care or to use that money as an "entry" fee for a "nicer" facility with memory care. I could also start to apply for Medicaid (when does one start that process?) for the inevitability of her money running out, but will Medicaid only pay for nursing home care or would they continue to pay for live in care? Her only income is her Social Security. We live in NY
You have a couple of months to make a decision, time to do some legwork.
Mom was in an AL and money was running out. In NJ you have 90 days to give them what they need for the application, liquidate any assets, like bonds, IRAs, insurance policies with cash value, ect. Spend down Moms money and find a facility. Mom paid privately for two months in the LTC facility. This spent down her money. I cashed in her insurance and used the money for a prepaid burial. Mom paid May and June and Medicaid started paying July.
There is Medicaid homecare. Mom will need to fit the criteria for income in your state. She will get aides based on her needs. I think, the cost depends are covered. You need to go to ur Social Service Office and talk to a caseworker about options. Each State is different.
ALs are not usually covered by Medicaid. But you can ask. In my state you have to private pay at least two years before Medicaid can be considered. Then that depends on how many beds are Medicaid and if already used.
That's why people have told me to not spend down the money in her bank account and use that to get her into a nicer facility. My quandary is whether I should use it to continue to pay for live in care or move her into a facility now while there is money to pay for a "nicer" place.
Private pay while you check into the services available to her in her city.
Area on aging is a valuable resource for finding what is available to people that want to stay in their home.
Gosh, at this age I would have to think long and hard about any drastic changes, like a facility. I hope that you find between her money and the assistance available that she can be where she is most content.