Medicaid Planning

Medicaid is not just for underprivileged individuals – in fact, Medicaid is the largest nursing home payer in the nation. However, careful planning is required to ensure eligibility and in order to avoid your life savings being consumed by Long Term Care (LTC). In absence of proper coverage, annual bills for LTC facilities can be hundreds of thousands of dollars.

You may be eligible for Long Term Care Medicaid benefits if:

  • You are eligible for a nursing facility
  • You are below a specific income threshold
  • Your assets do not exceed what is allowed, or they are not counted towards eligibility
  • You have not given away assets to avoid funding your own care

Medicaid planning is important for both married couples and single individuals. A spenddown is typically required depending on your monthly income and countable assets (such as bank investments, investment accounts, life insurance policies, multiple cars, and real estate other than your primary residence).  For married couples, it’s possible to protect the assets for the healthy spouse at home. For individuals it’s also possible to protect assets however the allowable amounts will differ.  The calculations of how much income and assets can be protected are very complex, and without careful planning it’s possible for the state to pursue your estate after you have passed away. 

We identify each client’s unique needs and provide solutions for streamlined Medicaid benefits eligibility.We encourage you to take advantage of our free consultation to ensure you get and maintain Medicaid eligibility and to help you avoid falling victim to the estate recovery program.