Medicaid Planning
When an elderly family member faces the prospect of transitioning to a nursing home, it can be a time of emotional and mental stress. Proper handling of the situation can result in smoother outcomes and avoid a huge financial setback. Many people realize too late that paying for nursing home care will quickly deplete their savings. Planning for future health care needs by understanding what Long-Term Care Insurance and Medicare covers, as well as what is required to qualify for Medicaid, can help ease the cost of nursing home care, assisted living, or in-home services when the time comes.
For those currently in a state of medical need, in a nursing home, receiving long-term Home Care Services now, or moving to a nursing home soon, timing is critical to avoid another month of high costs. At Drescher & Cheslow, we can help you plan for your future or transition quickly with a strategic process. Our Elder Law legal team has extensive experience assisting clients in qualifying for Medicaid and choosing the most cost-effective and secure options for their eldercare. The sooner we start, the better off you’ll be.
What is Medicaid?
Medicaid takes advantage of both federal and state health insurance programs to care for low-income individuals and those in need of additional financial support. Qualifying for Medicaid is necessary to make the cost of nursing home care manageable. While there are several ways to qualify for Medicaid, hiring a legal professional is a great way to ensure that you have the best chance possible for qualifying. Our team has experience helping individuals and families from varying financial backgrounds.
While everyone must meet specific standards to qualify for Medicaid, we understand that no two families’ situations are alike. The avenues taken to obtain Medicaid eligibility and develop a financial strategy will always be different. For instance, those who are not in immediate need of long-term care may be able to distribute or protect their assets in advance. This lets them quickly qualify for Medicaid benefits when they need long-term care. We also evaluate other factors, such as a client’s savings, property, marital status, family support, and more. At Drescher & Cheslow, we know how to navigate a variety of circumstances to help you receive Medicaid benefits in your time of need.
Thinking Ahead for Long-Term Care Needs
Too often, clients come to me when they have their backs against the wall faced with a difficult situation. Whether it is mom or dad, your husband or wife, or your best friend, looking ahead to strategize for long-term care planning simplifies the process for qualifying for benefits during an already challenging time.
Have any questions? Contact us for help!