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Medicaid is one of the most common payers of long-term care in the U.S. But how much of your care costs will Medicaid actually cover? Since Medicaid is designed to help individuals with limited income and assets, there is no standard co-pay. Instead, the amount paid by Medicaid varies depending on the recipient.

As you or your loved one grow older and become unable to take care of yourself, you may require some type of long-term care. In general, these facilities can be separated into three categories: nursing homes, assisted living facilities, and home-based care

In addition to Medicaid's income restrictions and non-financial requirements, applicants must also meet specific asset limitations. In fact, the asset qualification is typically the hardest for applicants to meet. Fortunately, not all of your assets are countable for Medicaid purposes. You can keep certain exempt assets while still qualifying for Medicaid.

The reality is that 70% of seniors will require long-term care at some point in their lives. Unfortunately, many of them are unprepared for the high costs associated with the nursing home. And they're stuck asking themselves, “How am I going to pay for this?” Well, if you're wondering how to pay for a nursing home stay, you're in the right place.

As a growing number of Americans reach age 65, they encounter unique issues and problems they have likely never come across before. That's where elder law comes in. Explore the scope of elder law and how an elder law attorney can help you address the unique challenges that come with aging.

Since Medicaid has such strict financial requirements and a comprehensive application process, it's possible you might receive a denial. Fortunately, you have the right to appeal the unfavorable decision and request a fair hearing. Here's what to expect in the event of a denial.

If you are in the Medicaid planning process, the final step in your plan is to complete the Medicaid application. Your state's Medicaid agency will provide all the details you will need as you fill out your application. But we wanted to give you an overview of what to expect throughout the application process.

The Medicaid program has been around for a while, but it's gone through several updates since it was first signed into law. Let's take a journey through those legislative changes to see how we got the Medicaid program we have today, specifically as it pertains to long-term care.