Funeral Planning & Medicaid - Insurance

Spend a lifetime working to discover health care costs exceed your retirement capital. Not to mention the inevitable funeral costs your love ones may incur due to exhausting your savings on healthcare alone. Prepaying your funeral can help offset these final expenses, or as I call them, closing costs.

Spend a lifetime working to discover health care costs exceed your retirement capital. Not to mention the inevitable funeral costs your love ones may incur due to exhausting your savings on healthcare alone. Prepaying your funeral can help offset these final expenses, or as I call them, closing costs.

It's a well known fact healthcare costs have been skyrocketing for better than the last decade. Growing at a pace two or three times faster than inflation. Take into consideration a significant amount of people will need full-time nursing home care. Another form of healthcare skyrocketing and leaving savings drained. Medicaid can help.

You might be asking yourself "What is Medicaid?". Medicaid is a state and federally funded program designed for assisting people with a great need for medical care and a low income. Medicaid helps pay for medically necessary treatment as well as nursing home care costs. It also can help with other types of care that Medicare and Medicare supplements might not cover. Payments are made directly to the provider. To qualify for medicaid there is a set of eligibility requirements you must meet. The requirements are: you must be at least age 65, blind or be disabled. Also having a low income or little savings will help because it is asset based.

Prepaying for your funeral will help some of your assets not count against you. This can be done by purchasing an insurance policy designed to cover your final costs. After purchasing the policy it is irrevocably assigned to either a trust that pays for the funeral or a funeral provider. This ensures you have the cash for whatever kind of funeral you wish to have. This also helps to relieve the burden of your final expenses on your family. And, if done correctly helps reduce your assets and helps your eligibility for the health care assistance you may need.





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