Worcester Medicaid planning lawyers provide important assistance to anyone for whom protecting a legacy matters. If you have assets that you wish to pass down to your loved ones, you don’t want to be forced to spend all of your money or to lose your property during the course of your lifetime just because you happen to get sick or hurt and need nursing home care. Since nursing home care is so expensive and since it’s not covered by Medicare or most insurance except under limited circumstances, losing your legacy is exactly what could happen if you don’t take steps to protect your wealth in case you end up needing nursing home care.
Making a Medicaid plan is not only important to make sure you won’t have to impoverish yourself by spending all your money on nursing home care so you can qualify for means-tested Medicaid. It is also vital to make a Medicaid plan so you can protect yourself from potentially losing wealth during a process called Medicaid estate recovery. Medicaid estate recovery is a process that happens after death and it involves the state trying to take property that you owned upon your death in order for the state to be repaid for certain kinds of care that Medicaid covered.
If losing your assets during your lifetime and after your death sounds undesirable to you, you need to take action. The Law Offices of James A. Miller, P.C. will help you to make sure that an illness or an injury you experience does not cause you to be financially devastated if you need nursing home care.
We can also help you to understand the Medicaid estate recovery process. In fact, we provide assistance not only to people who are planning ahead to try to ensure their assets are not subject to estate recovery, but also to those who are at risk of losing a part of their inheritance because of Medicaid estate recovery. To find out more about how, give our Worcester Medicaid planning lawyers a call today.
What are Medicaid Estate Recovery Rules?
According to Medicaid.gov, “state Medicaid programs must recover certain Medicaid benefits paid on behalf of a Medicaid enrollee.”
The state must comply with the federal Medicaid program’s rules for estate recovery. This means states must seek to recover money paid out for individuals who were 55 and over when Medicaid paid for their prescription drugs, hospital care, home and community-based health services, and care in a nursing home. The federal Medicaid program also indicates that states have the option to try to collect payments the states made for other kinds of medical care services as well, with the exception of Medicare cost-sharing payments that were made to beneficiaries on behalf of Medicare Savings programs.
The state tries to recoup money paid out to Medicaid beneficiaries who were 55 and over by making a claim on their estates after they pass away. This could mean that estate assets are diverted from heirs or beneficiaries to repaying Medicaid costs.
Getting Help from Worcester Medicaid Planning Lawyers
You do not want to work your whole life only to lose everything because you must pay hundreds of thousands of dollars for nursing home care when you get sick or hurt. It is unfortunate that most insurance, including Medicare, won’t pay for the care that you need so you cannot just buy policies to try to get covered. You will likely need to rely on Medicaid if you want to have your nursing home paid for by any source other than paying out of pocket, and you’ll need to make certain that you can qualify for Medicaid when you need the care.
You also deserve to be able to leave assets to loved ones without the state trying to make a claim to get back the money spent on providing for your care. This is why it is so important to talk with Worcester Medicaid planning lawyers both about how to qualify for Medicaid coverage when you need it and about how to keep your assets safe from estate recovery.
The Law Offices of James A. Miller, P.C. can help with all aspects of Medicaid planning and can work with you to make effective use of legal tools to protect your money and property. To find out more about what is involved in Medicaid planning and how you can take steps to keep wealth safe, join us for a free seminar. You can also give us a call at 866-370-3888 or contact us online to get personalized advice, so give us a call today to get your plan started.
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