Or just wait out 5 year ineligibility period. We are at the money part when we just have enough to go either way. But we do have to make a decision and stick with it. Mom could go longer than her money. We are working health care in her home. She just can't be alone.
Your mother has too much money to qualify for Medicaid now, right?
At the rate she is using it, she'll have enough money to stay in her own home with 24/7 care ... for how long? Is that where the five years come in?
If the place you would like to place your mother if she needs placement requires 2 years of private pay before they will accept Medicaid, then it sounds like you need to place her while she still has enough money left to pay privately for two years.
Does this get at your concerns? I think we are confused because "5 years" is also the Medicaid look back period, although that does not seem to be relevant here.
My heart goes out to you. It is hard enough to see your wonderful mother declining -- to also have to figure out the finances for her long-term care must be very stressful.
You really should have at least a consult with a Medicaid-savvy Eldercare attorney.
I for one would be in favor of visiting every possible facility in the area, with a continuing care facility being the best choice. I'd get mom on all their waiting lists.
You never know when she's going to fall, have a stroke or some other disaster that renders her not able to stay st home any longer. If you've done your homework, you know where you want mom to go for rehab ( PAID FOR BY MEDICARE) and then transition to long term care.
I know he needs to be cared for, and that I need to pay for it, but he is young-ish (71) and healthy in spite of ALZ. We have, relative to some, a "lot" of money, but what if he lives 20 years? We don't have anything like the $2,000,000 that would cost.
We live in an expensive housing area. If we sell the house, we would be able to pay for more of his care, but then all our money would become available and would not be sheltered for my lifetime. I don't want to become impoverished. I don't expect to be able to go on world tours, but I would like to be able to afford a restaurant and maybe an annual plane trip to visit relatives.
I guess it's time for another trip to the Elder Lawyer.