I am currently private-paying for my husband's care with his funds. One day, the funds will be depleted and he will apply for Medicaid. Is private-pay for care considered a spend-down expense? Are they similar to buying medicine, adult diapers, and other medical-related expenses? How do I document such expenses?
Medicaid planning when there’s a community spouse (you) can be complicated. Medicaid does NOT expect the CS to themselves become impoverished for your hubs to be eligible for Medicaid. Only your husband needs to meet Medicaids financial limits.
Your income is not a factor for his Medicaid. If the two of you have assets that take you over the amount allowed for a CS (for most states this is abt $119K), you should see what options are out there to convert assets over the 119K into income to you (like a SPIA) or pay down debt (like a mortgage) or other things to lessen your financial outlays in the future. Really a good elder law atty will have suggestions.
Also you likely need to change beneficiary on things..... most couples have each other as the beneficiary of thier life insurance policy. Bad idea if you predecease hubs as that insurance $ will take him over the Medicaid asset limit so he will be ineligible and who will be there to deal with all this for him as your gone. Ditto for having banking POD to him.
Your looking at the day to day costs, which I get it, it can be overwhelming. But you need to also think about the long view which is what an atty can help guide you on. Personally I’d look for atty that is CELA Or NAELA level.
An attorney is an allowable spend down expense.