Medicaid
Think of Medicaid as “Nursing Home Financial Aid.” Medicaid is a federal program that covers the cost of nursing home care for those who meet the four eligibility tests. Though it’s a federal program, Medicaid is administered by the states. This means that the rules are applied differently from state to state and from county to county. Though Medicaid planning is complex, it’s important to understand this: Medicaid is there to help families like yours. By working with an attorney having current expertise in this field, planning is the best way to insure that you receive the benefits and assure protection of your hard-earned assets. The first step in Medicaid planning is education. The more you know about how Medicaid works, the better you will be able to look out for the interests of your family. This site will give you an introductory, easy-to-grasp understanding of Medicaid law. For more detailed information, call us! Dispel the myths and misconceptions… First: Lets clear up the confusion and mistaken beliefs that cloud your understanding of the Medicaid Benefit. It’s never too late Medicaid planning can begin anytime, even if your loved one is already living in a skilled care facility. But: the earlier you plan, the more and better are your options to get the outcome you want. You can keep your home Medicaid does not make you sell your home. If you’re married, and you or your spouse needs to go into a nursing home, your home is exempt from Medicaid’s calculation of what your contribution to the cost of care should be. If you are unmarried or widowed and you go into a nursing home, your house may be exempt if you follow certain procedures. You can protect your home, and planning is the key. Don’t give away the store Since major changes to laws in 2006, “gifting” away your assets creates massive problems for you. Don’t ever gift or loan more than $1000 without first getting an attorney to tell you, in writing what to gift, when and how. Anchor in safe harbors Congress has created a number of “safe harbor” provisions for protecting your assets. These allow transfers of your assets to get protected status. Carefully Choose when you apply Rule of thumb: Do not apply for Medicaid without a plan to ensure you qualify. Get the right help Medicaid planning is a complex matter. You need expert assistance to keep your assets safe. Only work with a law firm with proven expertise in Medicaid law and the ongoing support for you through the process. What to do right now! Call us at 847-729-3300. Dolly will answer. Tell Dolly you visited our website and would like to learn more about how The Heartland Law Firm can help you get what you want.
