Medicare Laws and Restrictions

Answer:

Medicare laws are tough and ever-changing. That said, if you prepare adequately and well in advance, you can save a lot of your estate. Six months will not be enough time to achieve this, for example, should you find you’ve got to go into a nursing home within the year. The way Medicare laws are set forth, you must exhaust your own funds before Medicare will take care of your nursing home expenses. There are rules and regulations that monitor Medicare laws and what they pay and don’t pay. They change all the time. I would suggest that you contact a Medicare professional to help inform you about what you can and cannot do. There are ways that you can prepare not to dissipate all your money in taking care of yourself as you get older. Most often people wait too long to do it and most of their wealth goes to paying a nursing home or assisted living. It’s not unusual for someone to spend $5,000 to $7,000 a month on nursing home expenses and care. It doesn’t take long to go through a lot of money when you’re paying that much every month. I know the purpose of your saving up the money was to have it to take care of you in your older age, but you and your employer paid Medicare to help you down the line so you can still leave assets to your heirs and have enough money to get through life comfortably. The earlier you speak to a Medicare professional about your options for preserving your estate, the more of it you are likely to be able to protect.