Medi-Cal Planning & Emergency Medi-Cal
Confused about Medi-Cal? You’re not alone! The complexity surrounding this constantly changing area of the law can sometimes feel overwhelming… it doesn’t need to be.
Our experienced Emergency Medicaid (Medi-Cal) & Nursing Home Planning attorneys can guide you through the entire process and be your family’s trusted advocate, helping your loved one find the right nursing home, get the very best care there, and pay for it all without going broke. But timing is everything, so don’t delay in taking the first step.
Medi-Cal Planning Myths
So many times clients come to our office under the mistaken impression that there is nothing that can be done to protect assets from nursing home costs. Fortunately much of the circulating consumer knowledge is false or misinterpreted. For example, it isn’t always necessary to wait five years after gifting assets to become eligible for Medi-Cal. The answer actually depends upon the specific facts of your case. With the help of an experienced Elder Law and Medi-Cal Planning attorney many of the assets you have spent a lifetime accumulating can be protected from high nursing home expenses.
Medi-Cal Asset Protection
Although with the recent passage of the Deficit Reduction Act, increased restrictions affect the use of some techniques, other asset protection strategies remain viable, especially for married couples where one spouse requires long-term care. Some of these techniques may include setting up an Irrevocable Living Trust, making gifts to family members, and paying for certain Medi-Cal expenses.
Whether you are facing long-term care issues yourself or you have a family member who is, we encourage you to call with your questions or ask us for a free report. Be sure to call sooner rather than later because the timing of the decisions families need to make has a dramatic impact on whether or not someone can actually qualify for this type of support.
Elder Law involves planning for the complex health care, long-term care, and other issues facing elderly and disabled individuals and their families. Studies show that we stand a 40 percent chance of needing long-term care at least once before we die. Therefore, everyone should take into account that at some point residency in a nursing home or an assisted living facility may be needed.
Planning ahead for Medi-Cal Qualification
You don’t have to go broke paying for nursing home care!
Few people can afford to pay the full cost of a long-term nursing home stay. So, how do you cover the cost of nursing home care…and who exactly is responsible for the nursing home bills?
The decision to place a loved one in a nursing home is often accompanied by an incredible amount of anxiety and stress. Whether the need for long-term care is brought on by a sudden accident or by a long-term, progressive illness, this is likely an unhappy time for both the person entering the nursing home, the caregiver and everyone else helping with the transition.
Besides the upheaval involved in moving to a nursing home, there is also the stress of figuring out how to pay for nursing home bills that can total thousands of dollars each month. During this time of grief and stress, it’s easy to do nothing and avoid it altogether, assuming it has to come out of your own or your loved one’s savings. However, it is critical to make good financial choices during this period, because these decisions can have far-reaching consequences. Fortunately, there are options for alleviating the burden, and our office is available to guide you through this unfamiliar process.
Planning early is vital
You May Qualify for Medi-Cal to Pay Your Nursing Home Bills, Which Can Save You Thousands of Dollars Each Month!
Due to the limitations of the options available to pay for care, Medi-Cal is the most popular option for most Americans. The need for nursing home care does not have to catch you off guard. Planning early is vital, if possible you should begin planning at least five years before you need to enter a nursing home. When you plan far in advance, you can work within Medicaid guidelines to create a plan that protects the majority or all of your assets from long-term care expenses.
Benefits of Medi-Cal Pre-Planning
- Prevents the Government from taking possession of your home when you die as a result of “State Medicaid Recovery.”
Minimizes your risk of facing this penalty and being disqualified from receiving benefits, forcing you to spend your nest egg and your kids’ inheritance to pay for care.
When you give your assets away to a loved one directly, you may face potential gift tax issues. However there are strategic methods of transferring your assets so they are completely gift tax free!