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With people living longer, many families are confronted each year by the problem of what to do when a parent or family member can no longer care for him or herself. Financing nursing home care as well as home care is complex, but lack of funds shouldn't prevent you from finding appropriate care. A typical nursing home stay costs from $80,000 to $100,000 annually. However, when eligible, Medicaid, the government funded entitlement program pays up to 100% of this amount. The key is learning about protecting assets as well as determining eligibility for government entitlements, it can be confusing. |
