It might be hard to imagine now, but chances are you’ll need some help taking care of yourself later in life. The big question is: How will you pay for it? Buying long-term care insurance is one way to prepare.
Nursing homes monthly bill rates can differ depending on what the residents’ health status is. But some facilities charge an all-inclusive fee for all medical services, while others provide different rates for physician services, lab tests, prescription drugs, etc.
If a person is living in a nursing facility, receiving vendor nursing care, or requesting Home and Community-Based Services (HCB), federal law provides a way to protect some of that person’s assets for a spouse. The law also provides for setting aside income, if needed, for a spouse or dependents.
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