Medicaid Eligibility Planning

Medicaid Eligibility Planning

Many individuals will face the possibility of needing long-term care at some point during their lifetime. That type of care, whether it is through in-home care, an assisted living facility or a nursing home, can be very expensive. Even if you feel like you have sufficient assets to pay for long-term care for an extended period of time, you will still want to make sure that your planning adequately protects you and your family. An attorney with experience in Medicaid qualification and eligibility planning will be able to thoroughly explain all of your options based on your unique circumstances.

 The type of planning you do should be specifically tailored to your needs and family situation. While nobody can predict the future with complete accuracy, there are steps that you can take that will greatly improve your chances of ensuring that you will be able to afford long-term care for yourself or your significant other.

Some people presume that health insurance, Medicare or a disability insurance policy will help pay for the costs associated with long-term care. However, unless you have a specific long-term care insurance policy, your healthcare insurance (private or Medicare) will not typically cover these costs. Even if you have a long-term care insurance policy, the exclusions in some policies can be very detrimental if you are not prepared for them.

Another common misconception about Medicaid eligibility planning is that you need to be wealthy in order for legal planning to pay off. That is typically not true. If you do not think that your income sources would be sufficient to afford long-term care for yourself or a family member, Medicaid eligibility planning may make all the difference! A multi-millionaire rarely needs to be concerned with this particular type of planning, but someone with modest to moderate means has every reason to take steps to be sure he or she is protected. Regardless of what your financial situation is, there is no downside to meeting with an attorney that has experience with Medicaid qualification and eligibility to understand what your options and make the most informed decisions. 

Contact us here or call 
208-765-6555

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Contact us here or call 
208-765-6555

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Here at Kootenai Law, we specialize in cases under the Estate Planning section. Let our team help you with your Wills & Trusts, Power of Attorney & more!

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We deal with many Elder law cases here at Kootenai Law. Ranging from Guardianship, Medicaid Eligibility, Probate and more. Our Elder Law lawyers can help you out. Call us for an appointment!

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