What About Medicare and Medicaid?


Generally, Medicare is the federal program that:

  • provides hospital and medical insurance to people aged 65 or older and to certain ill or disabled persons.
  • benefits may be available for home health care, but only if certain conditions are met.
  • may pay for up to 100 days of care in a skilled nursing facility per benefit period - 100% for the first 20 days (after a three-day hospital stay, provided skilled care is needed). Then, for days 21-100, Medicare requires a co-payment. To help cover the co-payment, many people 65 and older also have a Medicare supplement insurance policy. In general once Medicare stops paying for care, the supplement payment will also end.


Medicaid generally pays for certain health services and nursing home care for those with low incomes and limited resources. Medicaid has limitations on the amount of assets you can own and the amount of income you may receive each month before you are eligible for benefits. Who is eligible and what services are covered vary from state to state. There are also restrictions on transferring assets to others in order to qualify for Medicaid.

Medicaid coverage of Nursing Facility Services is available only for services provided in a nursing home licensed and certified by the state survey agency as a Medicaid Nursing Facility.


Not intended as legal advice. Consult an attorney for details.


I’m Meredith Pensack and since 2003 I’ve helped well over a thousand people protect their retirement portfolio as well as their families. I specialize in LTC insurance solutions, including hybrid options that combine either life insurance or an annuity. This is my passion and I look forward to helping you, too.