Nursing Home Expenses
In Connecticut, a nursing home costs on average about $396/day for a semiprivate room, that's more than $12,000 a month!
This figure increases about 4% each year. Unfortunately, Connecticut is routinely the 2nd or 3rd most expensive state in the nation for nursing home care.
This is why you must start planning early. There are ways to protect all that you've earned so it doesn't all go to the nursing home. But first you need to understand the rules and timing of Medicaid planning.
- Rules of Medicaid eligibility
- How transfers affect Medicaid eligibility
- What is the Medicaid penalty period?
- Spending down for Medicaid eligibility
- Annuities as an asset protection strategy for married couples
If a nursing facility is in the near future for you or for a loved one, you should come to see us soon. You may be able to hold on to more assets than you think - which in turn would enable you to secure a future for your spouse and preserve a legacy for your family.
Call us today (860) 259-1575