One of the biggest benefits of the Medicaid system is that you can use the benefits to pay for nursing home care. However, this only comes into play if you have limited assets and qualify for the program in your state.
On the plus side, Medicaid definitely pays for nursing home care for millions of people. Conversely, there is no guarantee that this will happen. For example, you need to follow the right process for gifting assets to qualify for Medicaid. If you don’t, you may be penalized, thus realizing that you don’t have the help you thought when it comes time to pay nursing home expenses.