How Medicaid Planning Today Can Help Pay for Long-Term Care Tomorrow
Medicaid Planning and Elder Law Attorneys, Palm Beach County and Martin County FL
The Medicaid program was established to provide medical coverage to low-income American individuals and families for their healthcare needs.
Among the benefits provided within Medicaid is financial coverage for those 65 and older, for long-term care in facilities such as assisted living and nursing homes. Accessing this particular benefit, however, requires that the individual in question meet stringent income eligibility guidelines to qualify.
The practice and process of Medicaid Planning is aimed at creating a strategic plan that will help an individual qualify for the Medicaid benefits needed to pay for their long-term care.
As Medicaid applicants for such care needs are subject to a five-year “lookback” period with respect to their assets, it is advisable that those who seek to qualify begin the Medicaid Planning process years in advance of needing those benefits.
Beginning Medicaid Planning early can offer numerous advantages to the applicant and their loved ones:
- The ability to develop an effective personalized strategy, coordinated with both your overall estate plan and other elder law-specific plans, to satisfy Medicaid’s complicated eligibility requirements.
- Given the extremely high cost of nursing home or assisted living facilities, early Medicaid Planning provides the means to help avoid total depletion of your assets on your long-term care expenses.
- Provides personal peace of mind, knowing that you have created a documented plan to address and financially prepare for sudden healthcare situations that may require long-term care and its associated costs.
- Can safeguard the future of loved ones, as early Medicaid Planning helps prevent the personal and financial upheaval that sudden and unexpected long-term care costs may cause.
Navigating the Medicaid system to qualify for the long-term care benefits you or a loved one may need can be confusing, complicated, and difficult. It is strongly recommended that you work with attorneys who are highly knowledgeable and experienced in Medicaid Planning, and its evolving rules and regulations, to help maximize your ability to qualify for and receive those benefits.
At Kitroser Lewis & Mighdoll, our attorneys and staff offer more than 100 years of combined legal experience in all areas of Estate Planning and Elder Law, including Medicaid Planning, Long-Term Care Planning, and other closely-related practice areas.
We look forward to working with you very soon.
North Palm Beach Office: 561-721-0600
Jensen Beach Office: 772-763-1400
