Simplifying The Complex
Medicaid benefits are convoluted and confusing. There are many myths that add to this confusion, which is why it’s best to have an Elder Law Attorney guide you through the maze. One of the key things to remember is that Medicaid, just like Medicare, is a federally guaranteed coverage that you’ve already paid into for the duration of your entire career through your payroll deductions. This is something you’ve earned, not something you are taking from others. The only difference between Medicare and Medicaid is that Medicare is automatic, and Medicaid has criterion that you must reach in order to be eligible. That is what we are here for.
In order to receive Medicaid, there is a cap on your financial assets. If you exceed the maximum, you’ll have to use your own money to pay for long-term care before you can receive the benefits you paid into. If you are thinking, if I have too many assets to qualify, I’ll just start giving money away to loved ones so that I can qualify, please don’t make that mistake. It’s far more complicated than that, and that approach could leave you huge penalties and you would still not qualify. You need someone to guide you through the complex process. We can help you develop strategies that will allow you to keep your money without sacrificing your benefits.
In this area of planning, every aspect of your unique situation MUST be taken into account and impacts every other part of your financial planning strategy. One mistake in this area can cost thousands of dollars and months of time and trouble to repair. Relying on outdated information from the internet or a general practice attorney who do not focus on this area of law can cost you the Farm, literally!