Medicare & Medicaid

What is the difference between Medicare & Medicaid & what are they anyway?

Mom & Dad Care

The Richmond Times Dispatch

There are many common misconceptions regarding Medicare and Medicaid, including what’s covered and when people become eligible. Being able to discern fact from the fiction will help your family plan and prepare.

Myth: Medicare and private insurance will cover the cost of long-term care when a parent goes into a nursing home.

Medicare only pays for limited coverage in a nursing home and only after a hospital stay of at least three days. The care must be “skilled care” and the program only pays the full cost for the first 20 days. Days 21 through 100 of skilled care require payment of a deductible amount of up to $144.50 per day in 2012. However, in most cases, Medicare pays nothing because only “custodial” care, not skilled care, is required.

While long-term care insurance will pay for…

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Posted on March 3, 2012, in Aging, Health, Medicaid, Medicare, Senior Citizens, Senior Issues, Seniors, Social Security and tagged , , , , , , , , , . Bookmark the permalink. Leave a comment.

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