Medicaid Planning For LTC: Finding A Pathway To Approval

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Oct 13, 2015

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Colorado - Colorado Springs

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Webster defines planning as a map, or a way of doing in pursuit of a desired outcome. Thats why we make plans when it comes to things we value. From the weightier matters of our education, career, taxes and retirement to the lighter topics of vacation, workouts or even yard sales, we invest time and energy to build a pathway to what we want. As we continue to age and look beyond our retirement years, we are confronted with yet another challenge and the need for a plan. Many of us have loved ones or will ourselves eventually need long term care (LTC). Whether in need of nursing home, assisted living or in home care, the cost of these services far exceeds what most seniors can carry on their own. For those who cannot afford or qualify for private LTC insurance, Medicaid remains the most common source of funding such services. However, Medicaid approval comes with eligibility requirements that most applicants lack clear understanding of and are not prepared to meet. That is where the value of Medicaid planning begins. Medicaid planning starts with a financial assessment that provides clarity through accurate information which enables better decisions with greater confidence. Planning identifies potential problems with eligibility and works to find solutions that best match the client needs and priorities. Ultimately, Medicaid planning takes an individual from a point of ineligibility to a position of eligibility before the application is filed. The result is a smoother application process with less stress and worry. Medicaid planning can also identify legitimate means of preserving income and assets. To the surprise of many, Medicaid guidelines enable planning methods that protect income and assets for a spouse, disabled family members or even the applicant themselves. Such preservation can provide a means of supplementing future needs. Remember, proper planning works within the guidelines and never calls one to compromise their integrity. So, if you or someone you love is in current need of LTC, or you simply want to be better informed of the possibilities in Medicaid planning. Seek out the guidance of a qualified professional and begin building your planned Pathway to Approval.

Editor's Note: This article was submitted by Michael Sapp, Certified Medicaid Planner Medicaid Consulting Group, LLC. He may be reached at Medicaid Consulting Group at 719-645-8350 or by email at: Mike@medicaidconsultant.org

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