Why purchase a Long Term Care policy when Medicaid(welfare) is available?
A. With government spending being cut, many nursing homes are limiting or not accepting Medicaid(welfare) cases. As the population ages, especially with the maturation of the baby boomers, nursing home acceptance will become more difficult to obtain. Also, in order to obtain Medicaid coverage, you are required to “spend down” almost all of your assets which could impoverish or alter the lifestyle of your spouse and family.
