Do you know the difference between nursing homes and assisted living? Here is how to assess the difference for people with dementia and people needing long-term care.
Nursing Home vs Assisted Living
Brian: Do you know the difference between nursing homes and assisted living? My name is Brian Spitz, president of Big State Home Buyers and today we’re talking with Cyndee Frey, who is a specialist in assessing needs for people with dementia and people that need long-term care. Thank you very much for joining us. Cyndee: Thank you, Brian. Brian: So tell us briefly, what is the difference between a nursing home and assisted living? Cyndee: A nursing home provides skilled care. There are nurses available. It is covered. There are portions of it covered by Medicare and Medicaid. It is federally regulated, as well as state regulated. Assisted living is regulated state to state. It’s not regulated, there’s no federal regulation of it. And it is private pay or covered by long-term care insurance. Often people have to sell properties to be able to afford to live in long-term care, whether that’s assisted living or nursing home. Brian: Right. And I think that, correct me if I’m wrong, there are some stipulations in what Medicare and Medicaid will pay for in nursing homes, depending on your financial situation. So I’ve known people that have had to sell assets or deplete their own funds before they’re able to get government assistance. Is that correct? Cyndee: It is. And it really is critical for people to speak with an elder care attorney. Brian: Okay. Cyndee: Because Medicaid will do a five-year look back. And if they see any diversion of funds, then they take that into account. And working with an elder care attorney is really critical, around the finances. Brian: Right. Cyndee: What requirements you’re going to have related to long-term care. Brian: Which reminds me that one of the services that we offer at Big State that very few other companies have a specialized training in, is we are able to work with Medicaid. If you have to sell a property and there is debt owed to Medicaid, either from an estate or from a person receiving long-term care, we work directly with Medicaid here to reach a settlement. A lot of times, they will settle for less than is owed and we can help a client sell the property to pay off a Medicaid debt, which is very interesting. Cyndee: That is wonderful. I did not know that. Yeah. Brian: It is. There are all kinds of solutions to problems related to real estate. And all sorts of solutions related to problems required, that come up for people requiring long-term care or people required to settle an estate. So I encourage you to visit our website, BigStateHomeBuyers.com. You can read all about these different scenarios, all these different services that we offer. And I encourage you to visit Cyndee’s website. Tell us your website again? Cyndee: www.DementiaRemembers.com. Brian: And there’s a lot of great useful information there as well. Thank you.