Manage episode 233847738 series 2220819
Are you worried that you will end up spending all of your savings on nursing home care? Yes, nursing home care does cost A LOT of money. And a high number of us will eventually be in a nursing home at some point. But it is possible, with proper planning, to become eligible for Medi-Cal if you are not already.
In this episode, we will discuss long-term care for disabled people over 65. We will break down what Medi-Cal is and how it differs from Medicare. We will also talk about how to become eligible and dispel some common myths and misconceptions regarding how Medi-Cal works.
Big Three from Episode #027:
- Medi-Cal and Medicare are not the same things
- A lot of times, people are already eligible
- It’s important to see what your options are in terms of long-term care insurance
Time-stamped Show Notes:
1:55–What is Medi-Cal?
2:58–This is the difference between Medicare and Medi-Cal
6:56–Here’s how you become eligible for Medi-Cal
8:34–What assets can you have to qualify for Medi-Cal?
13:21–Kirsten highlights a common misconception on exempt assets
16:35–What should you do if you have too much income?
Episode #027 Freebie:
Wonder what type of assets you’re allowed to have to be eligible for Medi-Cal? Click here to download our FREE resource, Medi-Cal Resource Limits for Nursing Home Care–it lists all the exempt assets you can have.
Resources/Tools/Links Mentioned in This Episode: