At a glance: Available funding resources for Medicaid

Oklahoma Medicaid is available for long-term care if applicants meet certain requirements.
by Diana Baldwin Published: September 15, 2013
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Available funding resources

Medicaid

• Oklahoma Medicaid is available for long-term care if applicants meet certain requirements. People applying for assistance with home care can't make more than $2,130 a month. There are restrictions on the amount of resources the applicant has also. The amount paid depends on the needs.

• Oklahoma Medicaid is available for long-term care in a nursing home. The applicant turns over his/her monthly income and it is put in a trust account from which the nursing home fee is paid each month. When the person dies, if there is any money in the trust it is turned over to Oklahoma Health Care Authority.

• Individual out-of-pocket payments: Resident must pay from personal savings or investments or by selling their assets, such as land or their homes.

• Long-Term Care Insurance: Depending on the plan purchased, it may pay part or all of your care. Residents should select a policy that will best fit their needs. The lowest daily benefit for long-term care insurance is $100 with cost of about $100 a month for someone 55 years old.

Source: Department of Human Services, Oklahoma Insurance Department and State Farm Insurance

The cost of care in Oklahoma

$43,358:

Median annual rate for home health aide services

$37,500:

Median annual rate for assisted living facility, single occupancy

$51,830:

Median annual rate for nursing home daily rate, semiprivate room

$58,400: Median annual rate for nursing home daily rate, private room

SOURCE: 2013 Cost of Care Survey by Genworth

by Diana Baldwin
Sr. Reporter
Diana Baldwin has been an Oklahoma journalist since 1976 and came to The Oklahoman in 1991. She covered the Oklahoma City bombing and covered the downfall of Oklahoma City police forensic chemist Joyce Gilchrist misidentifying evidence. She wrote...
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