Woodward Respite Care Fund

		Considerations for Caregivers Family caregivers try to do everything they can to keep a family member at home. Statistics show that the caregiver's health deteriorates faster than the person they are caring for due to physical, mental and emotional stress, especially when the duration of caregiving spans many years as in the case of someone with Alzheimer's disease. At some point a decision must be made by the caregiver and family to look for alternate care. This can be through an Adult Day Care program, Assisted Living, or as a last resort, a Nursing Home. With costs ranging from $60 a day for day care to $6,000 a month for nursing home care, funds may eventually be depleted, necessitating the need for Medicaid down the road. Medicaid rules for eligibility are continually changing and becoming more stringent. Things you do today as part of estate planning or caregiving may come under scrutiny within the five year look back period that allows Medicaid to ask for financial information and documentation. While annuities and trusts have become a popular investment strategy of financial planners for estate planning, Medicaid has very strict rules on the use of these tools which may make an individual ineligible for Medicaid services if they have been set up. Medicaid Rules For more information about Medicaid rules you can go to www.dora.state.co.us/insurance and click on Information for Consumers and then Senior Health. This site is sponsored by the Senior Health Insurance Assistance Program in Colorado through the Colorado Division of Insurance. It offers information on all aspects of Medicare, with a section on Medicaid which goes into detail on the eligibility rules and the application process, the documentation required, and where to file the application. Medicaid Application To download a copy of the Medicaid Applications go to www.cbms.state.co.us You will need Application for Assistance Parts I and II.