Each year, thousands of Florida residents enter nursing homes and other long-term care facilities. Unfortunately, nursing home care is not cheap. According to the Florida Health Care Association, the median annual cost of a semi-private room in a nursing home is $87,600—nearly $7,300 every month. Many Florida senior citizens simply cannot afford such care without help. Understanding Medicaid Law, however, can greatly help to offset these costs.
Understanding Medicaid Eligibility
Medicaid is a joint federal-state program that assists low-income individuals in paying for health care. This includes nursing home and long-term care. Unlike Medicare, which covers most health care costs for individuals 65 and older, Medicaid is strictly means tested. In other words, your ability to qualify for Medicaid depends on the net worth of your assets and income.