Who pays when an elderly parent, on Medicare, needs rehab in a skilled nursing center?
Medicare may pay 100 percent of the first 20 days. After that, Medicare may pay 80 percent, and supplemental insurance may pay the other 20 percent of the bill. There is a 100-day Medicare benefit, but not everyone qualifies. You also need to have a 30-day wellness period outside the hospital or a skilled nursing center for that benefit to reset. For example, if the parent leaves the facility on Day 20-but returns the next week-they start where they left off at Day 21 because they didn’t have a 30-day wellness period.
Should I give any money away if considering entering a skilled nursing home (with Medicaid)?
No, Medicaid will examine the past five years of your finances when you apply for coverage. If you have given money away, you could be severely penalized with long periods of ineligibility and you may not get Medicaid even if you have zero dollars.
