Nicaud & Sunseri Law Firm, LLC
Southshore: 504-662-9596
Northshore: 985-218-0494

Making The Complex Understandable

Planning for Medicaid: Meet the strict guidelines to get covered

As you age, one of the things you will need to do is to plan for Medicaid. Medicaid can be extremely helpful in paying for your long-term care needs. If you are considering Medicaid as a potential option for paying for your care, you will need to plan for the application. Is extremely complicated and eligibility requirements must be met precisely.

Medicaid has extremely strict guidelines, which means that many people are rejected based on technicalities.To make sure that you get the Medicaid you need at the time in your life when you need it most, you must be positive that you can meet the guidelines. Many people seek outside assistance when they apply for Medicaid, typically in the form of an estate-planning attorney.

One of the things you will need to do is meet the asset limit. Medicaid is designed to help those with fewer options than others, which means that you must show that you have little or no money to spend on your long-term care.

How can you reduce the number of assets you have?

You can use a few different kinds of trusts as well as gifts to reduce the number of assets you have. Using a qualified income trust or irrevocable funeral trust could both help you meet the Medicaid asset limit. Many people who apply for Medicaid are just over the number of assets they are allowed to have, so placing your income in a trust, which takes it out of your hands, can help you qualify.

Are there other options for veterans?

There is another option for veterans. Veterans may be able to become eligible for VA Aid, Attendance Pension benefits and Medicaid at the same time. Dual eligibility is a major bonus for those who have spent time in the military.

What is a good way to eliminate assets to obtain Medicaid?

A popular way to meet the qualifications for Medicaid is to spend down money that is beyond the asset limit. With this process, the money can be spent on medical bills, health-insurance premiums, physician visits and other medical needs until the individual meets the asset limit requirements.

These are a few possible things to consider when you need long-term care coverage through Medicaid or other means. It's worth taking the time to discuss your application with a professional, so you can get approved as soon as possible.

No Comments

Leave a comment
Comment Information
Serving Orleans, St. Tammany, Jefferson, St. Bernard, Washington, St. John the Baptist, St. Charles and Plaquemines Parishes
Email Us For A Response

Get Answers Today

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Metairie Office
3000 18th Street
Metairie, LA 70002

Phone: 504-662-9596
Fax: 504-833-2843
Metairie Law Office Map

Covington Office
7020 US-190
Suite A
Covington, LA 70433

Phone: 985-218-0494
Fax: 985-624-9698
Covington Law Office Map