Medicaid and Long Term Care Planning


*Texas Residents* Medicaid Planning and Estate Preservation *Texas Residents*

YOU DO NOT HAVE TO SPEND ALL YOUR MONEY PAYING FOR NURSING HOME COSTS!

Our company specializes in Medicaid Eligibility Planning. Specifically we do this type of planning for people currently in nursing facilities, or who are entering nursing facilities and are concerned about the rapid depletion of their assets paying for their cost of care.

Contained within Medicaid guidelines are certain defined strategies that could possibly allow people facing this dilemma, the opportunity to preserve some of their assets while at the same time qualifying for Medicaid benefits.

If you know the rules and know how to apply them you will find that in most cases you are not required to spend all of your money, but in fact can preserve a large part of your money.

Click here for a FREE CONSULTATION.

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Medicaid Frequently Asked Questions:

What is Asset Spend-Down?
Can I avoid Asset Spend-Down?
Can I qualify for Medicaid?
Can I give away my estate?
Do I have the right to participate?

Q. What is Asset Spend-Down?

A. Asset spend-down is the natural process of spending the family's assets for the care of a loved one. The need for such care is most often sudden and unexpected.

As in the case of the Williams's:

Mr. Williams unexpectedly required custodial care at age 76. Within 24 months, Mrs. Williams had depleted their entire life savings on Mr. Williams' care, leaving Mrs. Williams with no visible means of support. Unfortunately, the Williams' were unaware of the Spousal Impoverishment Provisions provided within the guidelines.

We will help you determine the maximum dollar amount that can be protected for your family.

Q. Can I avoid Asset Spend-Down?

A. In most cases, yes. In the case of married or single individuals, there are other provisions within the guidelines not commonly known or used which can protect your assets from spend-down. With knowledge of these provisions and how best to use them for your benefit, you may preserve more of your estate.

Q. Can I qualify for Medicaid?

A. Eligibility guidelines for Medicaid benefits are set by the Texas Department of Human Services. Your eligibility is determined by your income, value of assets, and other personal information. However, when you qualify can be affected by what you do today.

Pre-Medicaid planning can help you have a greater understanding of your own eligibility status. A complimentary consultation can result in your qualifying sooner for benefits and avoid needless asset spend-down.

Q. Can I give away my estate?

A. Many people, in an attempt to avoid spending down their estate on long term care costs, will transfer or gift the bulk of their assets. This type of transfer will create a waiting period based on a Texas Department of Human Services table that changes annually. Due to recent new federal legislation, extreme caution is advised to anyone considering these options.

Q. Do I have the right to participate?

A. Medicaid was created by Title XIX of the Social Security Act and is the healthcare safety net for all senior Americans. Almost three-quarters of the people receiving long term care in nursing facilities in the State of Texas are Medicaid recipients. Some began their stay as Medicaid residents, but many paid for their own care until every penny they had saved was gone then qualified for benefits.

Theoretically, the right to participate (if eligible) was purchased over their lifetime with the payment of their tax dollars. Those dollars went to fund the Medicaid program as well as all other government programs. All of us are currently purchasing the same right as we pay our tax dollars each year.