Few topics generate more anxiety — or more misinformation — than paying for long-term care. With nursing home costs in the Kansas City metro often exceeding $8,000 per month, families understandably worry. Unfortunately, much of what people “know” about Medicaid and nursing homes simply isn’t true. Here are five myths I hear often in my practice.
Myth #1: “The nursing home will take our house.” Nursing homes don’t take houses. What actually happens is that care must be paid for, and if a family doesn’t plan, the home may eventually need to be sold to cover costs or may be subject to estate recovery after death. The good news: with proper planning, the family home can often be protected — but the earlier you start, the more options you have.
Myth #2: “We make too much money to ever qualify for Medicaid.” Medicaid eligibility for long-term care is more nuanced than most people realize. Income and asset rules include important exemptions, and married couples have special protections designed to keep the healthy spouse from being impoverished. Single individuals have effective planning strategies too. Many families who assume they’d never qualify are surprised by what an elder law attorney can accomplish, even in a crisis.
Myth #3: “We have to spend everything down to zero first.” This is perhaps the costliest myth of all. Families sometimes spend their entire life savings on care before seeking advice, when legal strategies could have preserved a significant portion for a spouse or children. Spending down to nothing is rarely required — it’s usually just what happens without a plan.
Myth #4: “We can just give everything to the kids.” Gifting without guidance can backfire badly. Medicaid reviews five years of financial history, and gifts made during that “look-back” period can trigger a penalty — a period of time when your loved one needs care but Medicaid won’t pay. Gifting can be part of a sound plan, but it must be done strategically and with full understanding of the consequences.
Myth #5: “It’s too late to do anything now.” Even when a loved one is already in a nursing home, meaningful planning is often still possible. Crisis planning can frequently protect a substantial portion of a family’s remaining assets. Too late is rare.
The bottom line: long-term care planning is not about hiding assets or gaming the system. It’s about using the rules — rules that exist precisely to protect families — knowledgeably and ethically. If you or a parent may need care in the coming years or are already receiving care, a consultation with an experienced Elder Law Attorney now can save heartache, and savings, later.
Brett Fulkerson is an Elder Law and Estate Planning Attorney and the founder of Fulkerson Estate Planning & Elder Law LLC in Liberty. He has been practicing Elder Law and helping single individuals and ill spouses qualify for Medicaid for over 15 years. His firm can be reached at (816) 479-2930 or info@fulkersonelderlaw.com.
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