What Is Nursing Home Asset Protection?

It would be logical to go through life with the understanding that your health related expenses will be covered when you are a senior citizen if you will be eligible for Medicare coverage. You qualify for Medicare through the accumulation of retirement credits. These credits are earned when you pay FICA or self-employment taxes. It takes 40 credits to earn eligibility, and you can accumulate as many as four credits in a year. This year, you earn one credit for every $1220 that you earn, so when you do the math, you can see that the requirements are very modest. Medicare does not pay for everything in full, and this is something to be well aware of when you are creating a retirement budget. There are deductibles, co-payments, and premiums that you must cover yourself. In most cases, these out-of-pocket expenses are relatively manageable. However, there is a situation that most seniors will face that is not covered at all. Many senior citizens will someday need custodial long-term care


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