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However, based on one’s marital status, financial holdings, and complexity of other relevant factors, it may be best to hire an attorney who specializes in Medicaid in the state in which one resides. Also, as covered above, it is illegal for non-attorneys to do some aspects of Medicaid planning in several states.
An elder law attorney can devise a plan for a married couple to spend down their assets to qualify for long-term care Medicaid but still retain enough resources for the healthy spouse to remain in their home and cover their costs of living. Read: Spousal Impoverishment: Medicaid Spend-Down Rules for Married Couples
Medicaid attorneys play a large role in both the Medicaid application process, as well as planning for Medicaid eligibility. Medicaid lawyers, first and foremost, are able to assist Medicaid applicants with the application process, such as filling out the paperwork, providing supporting documentation, and filing the application.
In these states for these specific services, non-attorney, Medicaid specialists often partner with attorneys to provide services. These states are Florida and Texas and to a lesser extent, New Jersey, Ohio, and Tennessee. Is a Lawyer Needed to get Medicaid? The short and simple answer is no, a lawyer is not needed to get Medicaid.
On the other hand, Medicaid attorneys often focus more on the legal aspects of Medicaid planning, such as creating Medicaid asset protection trusts or Qualified income trusts, which makes them the better option for this type of assistance.
Some Medicaid lawyers offer free consultations, while others charge an initial consultation fee or offer Medicaid planning conferences that range in cost from approximately $175 – $500.
This strategy reduces one’s countable assets, while at the same time , protecting some of them for family. Essentially, Medicaid applicants gift approximately half of their “excess” assets (assets over Medicaid’s limit) to their loved ones and then purchase an annuity with the remaining “excess” assets. (An annuity turns countable assets ...
One such strategy that elder law attorneys can implement is a Medicaid asset protection trust (MAPT). This type of trust not only prevents one from becoming ineligible for Medicaid due to gifting assets ...
Medicaid attorneys and specialists also assist with crisis planning, which occurs when a senior needs Medicaid benefits within 30-60 days.
For persons who have Medicaid cases that are fairly simple and straightforward, a Medicaid planner, also called a Medicaid specialist or a Medicaid Advisor, might be a good option. Working with a professional Medicaid planner can be a lot more cost efficient than working with a Medicaid attorney.
The look back period is 5 years in all states except California (Medi-Cal has a 2.5 year look back).
Not hiring a Medicaid lawyer could cost you if you have to go into a nursing home. If you have Medicare coverage, as many seniors do, when you need nursing home care, Medicare will only pay for skilled nursing home services. If you can get covered, which most people cannot because the range of covered services is so narrow, you typically will be covered only for a very short stay in a nursing home. Most private insurance, including Medicare advantage plans, have similar rules providing for only limited coverage for a brief duration.
Parman & Easterday can assist you with all aspects of Medicaid planning, including making certain you have plans in place to protect your assets and a disabled person’s access to benefits. To find out more about how Medicaid planning can be a key part of your asset protection plans, join us for a free seminar.
A good lawyer will devise a personalized Medicaid planning strategy that enables an applicant to retain as much of their wealth as possible for current and future needs while ensuring they will qualify for the long-term care services they require.
A Medicaid lawyer will take all aspects of a senior’s personal and financial situation into consideration to determine when they should apply and whether additional steps must be taken to avoid disqualification for benefits.
Elder law attorneys specialize in helping older adults with long-term care planning, estate planning and government benefits. Those with experience in Medicaid planning understand each state’s rules and regulations and help families by identifying comprehensive strategies to legally obtain and maintain eligibility for public benefits.
In some cases, there are exceptions that can help applicants avoid a Medicaid penalty period. In other situations, applicants who have made disqualifying transfers during the look-back period may be better off delaying their Medicaid application.
Applicants can retain ownership of certain types and amounts of assets while still maintaining their eligibility for benefits. In some instances, a personal care agreement is a great way for a senior to compensate their family caregiver (s) while legally spending down to meet Medicaid asset and income limits.
The financial Medicaid eligibility rules for married couples are different from those for unmarried applicants. An elder law attorney can devise a plan for a married couple to spend down their assets to qualify for long-term care Medicaid but still retain enough resources for the healthy spouse to remain in their home and cover their costs of living.
On the other hand, filing an application too late means that an elder and their family would miss out on months of long-term care Medicaid coverage while awaiting a determination.