A Worcester Medicaid planning attorney should be consulted if you are concerned that you may need nursing home care, long term care or other costly medical care that you may have difficulty paying for. Many people struggle with the costs of expensive care, sometimes spending their entire life savings in just a few months and becoming unable to leave a legacy. You do not have to let this happen to you if you work with The Law Offices of James A. Miller, P.C. to make an appropriate Medicaid plan.
Unfortunately, many people have misconceptions about Medicaid planning that prevent them from getting the help they need to get care costs covered and protect their wealth. Our legal team can help you to understand the truth about the Medicaid planning process and can assist you in making an Medicaid plan that is right for your personal situation. Give us a call to find out about the personalized assistance that we can provide to you, and read on to find out the truth about some common misconceptions about the Medicaid planning process so you can better understand why you should get help from a Medicaid planning lawyer.
Myth: Medicaid is Only for Poor People
Many people believe that they won’t need a Medicaid plan because they think of Medicaid as a program that provides healthcare service only to poor people. The reality, however, is Medicaid is often the only source of payments for nursing home care and long term care unless you want to pay out-of-pocket.
Medicare will only cover skilled nursing home care, such as care after surgery to change bandages, and won’t cover care if you just need help with basic activities of daily living. Private insurers usually have similar restrictions, leaving only Medicaid to pay nursing home care costs or long term care costs that can total thousands of dollars monthly.
If you don’t want to lose a lifetime of wealth because you get sick, you should make sure you can qualify for Medicaid when you need to. Because Medicaid is means-tested and you could be unable to get coverage while you still have financial resources, you should make a plan so you can keep as much of your wealth as possible without your assets counting as financial resources that disqualify you from Medicaid coverage. A Worcester Medicaid planning attorney will explain when and how you can hold on to your wealth while still being able to qualify for Medicaid to pay for care.
Myth: You Should Wait Until You’re Sick to Make a Medicaid Plan
Even if you realize you may need Medicaid some day, you may think you can wait until you’re sick to take steps to qualify for Medicaid. This can be a mistake because if you own a lot of assets when you apply for Medicaid, you won’t qualify due to the resource limits that apply to the program.
You cannot just transfer your wealth after you get sick and apply right away for Medicaid because Medicaid imposes a five-year look back period and checks for transfers of wealth that occurred within five years of when you want benefits. If you’ve transferred assets recently, you could experience a period of disqualification from Medicaid, during which time you might have to pay out of pocket for care. If you’ve made your plans and protected wealth early, you can avoid this problem and get covered when you need it while your assets will be kept safe.
Myth: It is Too Late to Make a Medicaid Plan Once You’re Sick
While it’s always best to take action and make a Medicaid plan long before you actually need care, it is not too late to do crisis planning even if you need nursing home care or long term care right away. Miller can explain to you what steps you can take to try to keep as many assets as possible even if you are in need of Medicaid coverage imminently.
Getting Help from A Worcester Medicaid Planning Attorney
Whether you are planning ahead or are responding to a crisis that has created an imminent need for Medicaid, The Law Offices of James A. Miller, P.C. can help you to put an effective plan in place to qualify for healthcare coverage while protecting as much of your wealth as possible.
To find out more about how a Worcester Medicaid planning attorney at our firm can help you, join us for a free seminar. You can also give us a call at 866-370-3888 or contact us online to get personalized assistance. Call now to get started on your plan so you can protect the maximum value of your assets and get the care you need when you need it.
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