For more than eight years, Yosef Meystel has served as president of YAM Management. In that capacity, Yosef Meystel oversees the daily operations and financial management of 16 nursing home facilities.
For some nursing home residents, a variety of resources exist to cover costs. For residents with limited resources, Medicaid coverage may be available based on certain eligibility guidelines. Medicaid benefits may also help cover costs for residents who paid nursing home fees using their savings or family resources once those resources are gone. In both cases, residents apply and receive benefits through their states.
Certain residents are eligible to pay certain fees with Medicare benefits, provided the resident entered the nursing home following an eligible hospital stay. For the most part, however, residents and their families pay nursing home costs out of pocket. For this reason, some individuals purchase long-term care insurance, although less than 3 percent of Americans currently make this investment.