Medicaid & VA Benefits

Medicaid & VA Benefits2019-05-08T13:52:21+00:00

Medicaid & VA Benefits

One of the greatest fears of older Americans is that they may end up in a nursing home. This not only means a great loss of personal autonomy but also comes with a tremendous financial price. The cost of long-term care has risen significantly in the past decade and will continue to rise.

In 2017, the average cost of a nursing home facility in Texas is $5,200.00/mo (app.)

Four Possible Ways to Pay for Long-term Care

  1. Private Pay
  2. Long-term Care Insurance
  3. Medicaid
  4. Veteran’s Aid & Attendance Benefits

Many nursing home residents do not have long-term care insurance, due either to its cost or its unavailability. Unfortunately, these residents often take the private-pay route and end up exhausting their assets on their long-term care. But it doesn’t have to be that way.

Medicaid and Veteran’s benefits offer very effective alternatives to pay the prohibitive cost of long-term care with private funds while protecting assets for loved ones.

Additional Information