Many families wonder if it is really necessary to hire a Medicaid Planner. In many situations it is prudent, cost-effective, and strongly advised. The decision should be based on each family’s specific situation. The sheer cost of long-term care bears thought and proactive planning. We’re here to help guide you through the process.
It’s likely you’ve heard stories about the headaches of applying for nursing home Medicaid. Comments like “Medicaid will take everything”, “The nursing home said I must first spend all my money” or "we make too much money" are all simply not true.
Eligibility requirements for long-term care Medicaid are anything but basic and simple. Fortunately, Medicaid laws and guidelines allow for exceptions and methods for becoming eligible to receive benefits for anyone. We will shed a light on Medicaid’s policies and how we may assist you during our consultation.
The most common term you’ll hear in becoming eligible for Medicaid is “Spend Down”. Simply put, it means for you to spend all your hard-earned assets to zero and then apply for Medicaid. We call this an uncontrolled spend down and although it is something you may do; it is not necessary. But even a drastic uncontrolled spend down like that won’t guarantee benefits! Why? As stated before, the many different polices set are all but simple and basic.
But how do you spend down? Give the money away? Nope…. Transfer property/personal item? Nope… Any number of mistakes in an uncontrolled spend down will cause Medicaid to rule a denial of benefits.
If you have these questions, then it will be in your family’s best interest to hire a Medicaid Planner with experience.
Hire us!! A Graceful Medicaid Solutions expert.
Let us do all the worrying for you. Schedule your consultation today!
Medicaid eligibility is complex and one wrong move could cost you a denial. The rules change frequently. The application is time consuming, and the review process is lengthy. The consequences of being denied by Medicaid are severe and can negatively impact the comfort, happiness, and even the health of the individual applying and their entire family.
Medicaid Planners help clients structure their financial resources (in partnership with a financial planner) and prepare documentation to ensure the greatest possibility of being accepted into the Medicaid program. They facilitate in creating trusts, manage asset transfers, and convert countable assets into exempt assets to ensure eligibility and preserve a family’s resources. They also assist in protecting a family home from Medicaid Estate Recovery through the partnership with an Elder Law Attorney.
In addition, they manage finances to ensure a healthy spouse (a non-applicant spouse) has adequate income and resources to continue living independently during and after the time when their partner is receiving care assistance.
Disclaimer: Graceful Medicaid Solutions (GMS) specializes in assisting families qualify for nursing home Medicaid in the state of Texas. The information contained in this site is provided for informational purposes only and should not be construed as legal advice on any subject matter. We do not offer legal or tax advice. You should not act or refrain from acting on the basis of any content included in this site without seeking legal or other professional advice.