Good SmartMoney list from the WSJ about Top 10 things Medicare won't tell you. Not paying for long term care ranks in the top 10: Here's a link to the article., and the #7 reason below:
7. "We don't cover a lot of the care seniors need most."
If your aging mother needs full-time care in a nursing home or a significant amount of home health care, she will have to meet some strict criteria to make it happen. For the most part, Medicare doesn't pay for nursing home care except for people who were hospitalized for at least three days within the previous 30 days and require "skilled" care, which is care that only a medical professional like a registered nurse could provide. Even then, it only covers up to 100 days per benefit period.
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As fiscal pressure continues on Medicare, here is one of the ways to help curb costs. Those clients with assets may be looking at ever increasing health care costs in retirement.
Can't raise taxes? Hike Medicare premiums instead
By RICARDO ALONSO-ZALDIVAR, Associated Press –
WASHINGTON (AP) — Republicans may have found a way to squeeze more money out of well-to-do Americans without raising their taxes.
A year-end economic package expected to gain House approval Tuesday prescribes a Medicare premium increase for "high-income" beneficiaries. Although the bill faces a veto threat from the White House, that specific provision may turn out to have staying power.
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