Massive Impact!
July 2017
Issue #54


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Nancy Gould Past President  Estate Planning Council of Putnam County

"The Government is going to pay for my long-term care," stated Henry as he served another platter of roasted vegetables to his guests. The conversation in the room stopped to hear his appealing, but very questionable statement.

Henry knows that Medicare will not pay long-term care expenses. When his mother was disabled, Medicare paid her doctors' and hospital bills, but not her home care expenses. Medicare pays for medical care, but not personal care. When her assets and income met her state's Medicaid qualifications, Medicaid paid for the cost of her personal care. Henry plans to use the same process when he becomes disabled. 

The new health care bill that is being proposed in Washington will change that, if the bill is passed. As I write this Issue, the future of the Federal Health Care Plan is uncertain.

Currently, Medicaid is the largest payer of long-term care costs. If significant cuts to Medicaid funding, as has been proposed in discussions for a future health care bill, are made Medicaid will no longer be the guaranteed safety net for long-term care expenses and numerous other programs. The amount for long-term care costs that the program will cover will definitely be decreased.

Henry cannot plan with any certainty that Medicaid will be there to pay his LTC costs.

Peace and Good Health,

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