Senior healthcare insurance is perhaps one of the most important things to keep track of as you approach the age of retirement. The truth is, these insurance plans can get tricky and technical. However, by keeping yourself updated with the basics and the latest changes in health insurance plans, you can make the most of them.
There are two main healthcare plans that the government of the United States facilitates its citizens with, Medicare and Medicaid. Catering to over 73.5 million people across the US and having enrolled 16 million more in May 2018, the federal spending on these healthcare plans has been increasing over the last three decades. Although the eligibility criteria and the scope of benefits for both these health care plans is different, Medicare and Medicaid play a big role in helping out people nearing and of the age of retirement receive the best possible health care options.
Even with the recent budget cuts on Medicare spending, this governmental health insurance program is still accessible to many US citizens. The only thing that people nearing the age of 65 need to keep track of is to enroll into the program on time to ensure they have access to Medicare benefits. Among other health care coverage plans, Medicare and Medicaid also cover memory care.
Medicare, Medicaid and Coverage for Memory Care
Knowing the kind of coverage these programs provide and the scope of the coverage, you can choose best the type of senior living facility that offers the memory care needs you may be looking for.
Medicaid and Memory Care
Medicaid is a social protection program that caters to seniors with limited resources and low incomes. A Medicaid provision includes recipients of Medicare and is solely for those who meet the low-income criteria. The Medicaid office in your state decides who becomes a beneficiary in terms of eligibility. This includes checking for eligibility of receiving memory care coverage.
Each state decides its own terms for offering Medicaid to the receivers. This is why it’s important to understand the laws of the particular state in which the senior needing memory care resides. While some states offer Medicaid coverage for people diagnosed with Alzheimer’s and other forms of dementia, others only grant Medicaid benefits to those needing memory care at home and not to those living in assisted living facilities.
For this reason, it is always best to check with the facility you are considering and ask them if they accept Medicaid payments for their memory care services.