Medicaid Planning and Application
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Assisting Families in Transition:
Today, people are living longer and are living more productive lives. All of us at some point may face the prospect of seeing a loved one enter a nursing home; or we may need to think about whether or not we can continue to live at home or whether it is time to move to a senior living community, assisted living facility or a nursing home.
The decisions to be made and how many options are available, may depend on and be influenced by whether or not you or your loved one has long term care insurance, the financial resources to privately pay, or whether Medicaid will be needed. You may be making these decisions yourself or for a loved one.
We have assisted many families, including our own, in this sometimes difficult transition and in applying for Medicaid, and can make the process more manageable for you.
If your goal is to preserve assets, we can explain the Medicaid requirements in laymen’s terms so that you understand how Medicaid works, can develop a plan to pay for nursing home care, and can advise you on preserving assets for your family.
If you are a caregiver, we can work with you so that you understand what legal documents are necessary to enable you to make decisions for the person you are caring for -- documents such as power of attorney and health care proxy. We can help you through the early stages of caring for someone to ensure that you are prepared for that loved one’s transition to assisted living or nursing home care and to make that transition easier and less stressful for you.
Determining whether Long Term Care Insurance is an option:
We can help you evaluate:
• If long term care insurance is worth purchasing
• Whether you can afford long term care insurance
• How much insurance you should purchase
• When you should purchase a long term care policy
• What type of insurance policy meets your needs
Preserving Assets Through Gifting and Applying for Medicaid:
There are two types of Medicaid – home care and nursing home care. Home care includes a range of skilled nursing home care and home health aid services in your home. Nursing home care is where you are living in a facility that will provide those services for you.
Medicaid eligibility is based on financial need. There are strict income and resource standards that must be met before benefits can be obtained. There are also transfer penalties and look back periods which may prevent an individual from qualifying for Medicaid. Lack of understanding the application process and requirements can affect eligibility.
Many individuals consider making gifts to preserve some of their assets for their family members before applying for Medicaid. Gifting assets may or may not be appropriate for an individual and will depend on many factors. Before undertaking this course of action you should understand the potential consequences in terms of the type of care available, whether to exhaust your assets prior to qualifying, likely future needs, and of course, the many legal requirements that must be considered. If you decide to preserve assets by making gifts, we will work with you to ensure that gifting is completed appropriately and will guide you through the Medicaid application process.
Our law firm stands ready to assist you in making a decision to move into senior living, assisted living or nursing home; in preserving assets through Medicaid planning or in applying for Medicaid.
For More Information: please call us at (585) 325-7515 or Submit a Confidential Form Request