What are the Benefits of Medicaid Planning?
Blue Ash Medicaid attorneys at Zimmer Law Firm will work closely with you to create a Medicaid plan that ensures you are prepared to cover healthcare expenses in the future. Far too many people who need a Medicaid plan do not make one because they do not understand fully how making this type of plan could benefit themselves and their families. The reality is, making a Medicaid plan is very important for most people and not having one could have serious financial consequences.
If you are looking ahead towards the future and you want to protect your family and assets, you should contact Blue Ash Medicaid attorneys at Zimmer Law Firm today to get personalized help. Our firm will help you to determine if you need a Medicaid plan and will assist with the creation of a plan that effectively uses the right legal tools to secure your assets. Contact us now to learn more or read on to find out about the benefits of making a Medicaid plan today.
You Can Afford the Nursing Home Care You Need
As many as 70 percent of people who are 65 or over will eventually require nursing home care, according to the Wall Street Journal. Unfortunately, Medicare and most types of private insurance will not provide payment for nursing home care except in very limited circumstances where skilled nursing care becomes necessary. Getting care in a nursing home can be extremely expensive when you have to pay out of pocket. You may be worried that you won’t be able to afford the care you require. But, making a Medicaid plan ensures that you will be able to get Medicaid to cover you when you need it — which means you’ll be able to pay for a nursing home because Medicaid will pay your fees.
You Won’t Have to Impoverish Yourself to Get Your Care Covered
Medicaid is a means-tested benefits program, so having too many assets means that you will be disqualified from coverage and will not be able to get Medicaid to pay for your nursing home or for other costly healthcare services. If you need costly care, you’d have to use your own assets to pay for it, impoverishing yourself until you have spent enough to get below the Medicaid asset limits and get covered.
Making a Medicaid plan allows you to protect your wealth while still qualifying for benefits. You can get your care paid for and structure ownership of your money and property so your wealth does not have to be lost in order for you to get your bills paid.
You Can Control Your Legacy and Avoid Medicaid Estate Recovery
When you receive Medicaid coverage when you’re older — or if you get Medicaid coverage for nursing home care — estate recovery allows the state to act as a creditor and try to recoup the money that was spent on your care. You could end up losing out on the chance to leave your legacy because the state could try to take your house or other assets that you left behind.
While there are some restrictions on when the state can take assets — for example, it typically cannot take a house if you have a surviving spouse or a disabled relative living in it — there are many circumstances in which valuable assets you wanted to hand down to the next generation are lost because you received Medicaid services. A Medicaid plan allows you to avoid this.
Getting Help from Blue Ash Medicaid Attorneys
Blue Ash Medicaid attorneys at Zimmer Law Firm will provide the help and support that you need to make a comprehensive Medicaid plan. We can also assist with other incapacity planning steps that you may wish to take and can help you to ensure that you, your assets, and your loved ones are protected from loss no matter what the future holds.
To find out more about the assistance we offer in the Medicaid planning process, join us for a free seminar. You can also give us a call at 513-721-1513 at any time to get personalized help with your Medicaid plan.