‘Poor-people’ is what most think of when Medicaid is mentioned. A closer look at Medicaid reveals that the program does far more than assist the poor. Medicaid is a State and Federal program that will pay most nursing home costs for two-thirds of all nursing home residents. As I discussed in another post, the cost of nursing home care is daunting to say the least. Medicaid was established to help a broad range of people deal with the financial pressures of long-term care.
Generally, in order to become eligible for Medicaid, personal assets be used first. People who may never have considered themselves to be eligible for Medicare, may become eligible depending on; annual income, marital status and assets. The ultimate determination of eligibility is determined by the individual State.