So My mother was dx with 2nd stage Alzheimers; after two falls at home, she was admitted to the hospital, and they transferred to rehab, and cognitive decline became an increasing concern. Healthcare and my sister and I decided that Mom is better as safest served in an assisted living long term. I am managing her finances, and she has Medicare and Medicaid...I have heard horror stories as to signing all finances to the facility and want to continue control; what are my portion if any? Can I designate facility payment directly to them and not all her money? Is there a difference in what facility I place her other than one that specializes in memory? Do I have to continue paying her bills like credit cards and such?
Is Mom on Medicaid for health or in home care. If for Health, she is allowed some assets. Those assets have to be spent down before Medicaid will pay for LTC. At the point that Medicaid starts paying Moms SS and pension goes to the NH. I chose to let the NH become payee for Moms pension and SS. My thought was when she died, they could deal with SS and pension if there is a problem. The spend down cap of 2k is Moms. It has to be used for her needs. A Personal Needs acct will be set up (if you chose the NH to become payee) where a small amount of money (my state $50) will be set aside for her personal needs. Any monies left from the cap and PNA when Mom passes goes to estate not to Medicaid. So, you really will have no money to handle unless you chose to pay the NH each month.
Specialized facilities like Memory Care, are private pay. If Medicaid is paying for her care, she will have no money. So she cannot pay her bills or credit card debts. You will not be held responsible to pay out of your own pocket.
Medicare pays nothing towards LTC.