MEDICAID (con’t)
Nursing Homes
Medicaid DOES pay for LTC in nursing
homes with the following program*:
• Medicaid Institutional Care Program
(ICP)- Unlike Medicare,
Medicaid can pay for custodial
care for an unlimited time period
Home Care Agencies
Medicaid DOES pay for LTC for home
care from:
Home Health Agencies/Nurse
Registries
Skilled Health Care - given by RN’s
& LPNs
Personal Care - given by HHAs
• Homemaker/Companion Agencies
Medicaid has several programs under Home
and Community Based Services* (HCBS) to
help individuals stay at home. They are:
• Aged/Disabled Adult Waiver (ADA)
• Consumer-Directed Care Plus Program
(CDC+)
• Nursing Home Diversion Waiver (NHD)
• Hospice Care
*Recipient must meet both functional and
financial criteria for eligibility for all programs.
Not all providers participate in these programs.
To receive benefits care must come from an
authorized participating program provider.
LONG-TERM CARE
INSURANCE
Depending on the type of policy you
purchase, a long-term care insurance
policy DOES pay for care provided by:
Assisted Living Facilities
Nursing Homes
Home Care Agencies
Standard Provisions
Long-term care policies are not standardized,
resulting in many different policy designs.
It is important to know the types of coverages
available, then compare each policy before
purchase, to make sure the policy being quoted
has the benefits that are wanted.
Coverage
While LTC policies vary in coverage, they
usually will pay either a fixed-dollar amount (an
indemnity) or the actual costs of care. However,
policies that pay for actual costs usually have a
specified daily benefit amount that puts limits
on how much can be paid out each day. There
may be a limit on how many days the benefits
will last.
Florida LTC Partnership Program
To encourage individuals to purchase private
long-term care insurance, the State of Florida
has developed a partnership program between
Medicaid and private insurers. Florida Long-
Term Care Partnership Program policies are:
• tax qualified
• provides inflation protection
• provides dollar-for-dollar asset protection
in the event you need to apply for long-term
care Medicaid assistance.
REVERSE MORTGAGE
• The funds from a reverse mortgage can
be used for any purpose. Just remember
that a reverse mortgage is a loan
against the equity you have built up in
your home. Be prudent as to how you
use these funds. Before you borrow,
you should carefully consider whether
it’s right for you.
76 www.PolkElderCare.com