Question

medicaid is intended for the needy, yet few middle-class families can afford to pay the costs of nursing home care. consequently many who people enter a nursing home as private-pay patients rapidly deplete their income and assets and thus become poor through a process known as .

Answer 1

Many who people enter a nursing home as private-pay patients rapidly deplete their income and assets and thus become poor through a process known as The Spend-Down Process.

When an individual's income is too high to qualify for Medicaid, he or she may use a Medicaid spend down strategy. To be accepted into the program, the individual must spend down some of his or her income to ensure that his or her income is low enough to qualify for Medicaid. You can apply for Medicaid either through your state's Medicaid agency or through the Health Insurance Marketplace.

Individuals frequently must first complete an income or asset spend down in order to qualify for Medicaid. This means that a portion of the individual's income or assets must be spent, typically on health care and medical-related expenses. However, you could spend money on accumulated debt, such as a mortgage, a car, or credit card balances.

Learn more about Medicaid here:

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