Plan Ahead Before Seeking Nursing Home Care: Avoid Unnecessary Debt for You and Your Family
Entrusted Legacy Law
Feb 03, 2023
Pennsylvania - Greater Pittsburgh Area
Email US
Click to Email Us
Many senior citizens may need the services of a nursing home or at-home care at some point in their life. You might assume that government assistance or health insurance will step in and cover the cost if you cannot afford these services. Unfortunately, neither health insurance nor Medicare covers long-term care. Because obtaining long-term care insurance can be very expensive, Medicaid could become your only option.
Medicaid coverage isn't a given, however. If you have assets or recently transferred assets, Medicaid may determine you don't qualify for coverage until a certain amount of time has passed. If this happens, you and their family can face significant medical bills. If you cannot pay, nursing homes may take you to court to get reimbursed.
What steps can you take to avoid this? First, before applying for Medicaid, get a better understanding of the timelines in your state – known as lookback periods – that can affect your eligibility. Then you can engage in proper Medicaid or asset protection planning in advance of these timeframes. A good age to begin planning is around age 65, although everyone’s situation is different.
Individual states run Medicaid programs, and every state has different rules regarding Medicaid eligibility. These programs were designed as a payor of last resort — in other words, to qualify, you must meet strict requirements. There are two primary types of Medicaid benefits: home care and skilled nursing home care.
Lookback Periods
You must submit an application to your local Medicaid office to qualify for these benefits. As part of this process, the state will look at any money or property you may have transferred within a certain lookback period. In New York, for example, this period of time will soon be 30 months for home care and 60 months for skilled nursing care.
These lookback periods can have serious consequences. If you haven't engaged in appropriate asset protection planning, you may not be able to qualify for home care or nursing home care for many months. The result is that many elderly individuals must then spend down their savings and liquidate their assets to pay privately for their home care before Medicaid starts covering anything. If a person no longer has resources and is subject to a disqualification penalty period, family members may have to step in and bear these costs on their own.
So, what can you do? The answer is to start planning as soon as is practical.
Options to Explore
Speaking with an elder law attorney can help you and your loved ones explore options available to avoid you or them being personally responsible for the costs of your care.
- Medicaid Asset Protection Trust — One common approach is placing assets in a Medicaid Asset Protection Trust. You may be able to use this to shelter various assets such as stock accounts, savings, a home with unprotected equity, and much more.
- Pooled Income Trust — Another option you may explore is contributing income that exceeds Medicaid allowances to a Pooled Income Trust. This can allow you to qualify for Medicaid while diverting excess income to a trust that pays qualified expenses on your behalf. This will enable you to benefit from the income and not spend it on things Medicaid could have otherwise covered.
- Spousal Refusal — Your spouse may also have options that can help you qualify for Medicaid. One such option includes exercising a right of spousal refusal — a process available in some states by which the income and assets of your spouse can be removed from consideration in your Medicaid eligibility analysis.
Finally, an attorney can help you understand if certain transfers are permissible under Medicaid rules without triggering a penalty period.
Without proper planning, individuals with assets and income exceeding specific state-set thresholds would have to spend this income and their assets on their care or exempt items before they can receive Medicaid benefits. For assistance in planning, consult with a qualified elder law attorney in your area.
Other Articles You May Like
Going Nuts for Pistachios
Let's celebrate one of nature's most delightful offerings: the pistachio. These little green gems are not just a treat for the taste buds; they're also packed with health benefits. Let's crack open the world of pistachios and other nuts, exploring their health benefits and some delicious pistachio-based snacks.The Wonder of PistachiosA Nutty HistoryPistachios have been a cherished snack for millennia. Originating from the Middle East, they have been a symbol of wellness and robust health since ancient times. Today, they are enjoyed worldwide, known for their unique flavor and vibrant green hue.Health Benefits of Pistachios1. Heart Health: Pistachios are great for your heart. They're loaded with antioxidants, healthy fats, and fiber, which help in reducing cholesterol levels and lowering the risk of heart disease.2. Weight Management: Despite being energy-dense, pistachios have a high protein content and fiber, which can help in feeling full and preventing overeating.3. Blood Sugar Control: Their low glycemic index makes pistachios a smart snack choice for maintaining stable blood sugar levels.4. Eye Health: Pistachios contain lutein and zeaxanthin, antioxidants that are crucial for eye health.We've put together a selection of pistachio-based snacks. From roasted and salted pistachios to pistachio-infused treats, there's something for every nut lover. These snacks are perfect for a healthy, satisfying nibble.Uncanny | Pistachio Salted | 1.3oz CanWonderful | No Shell Pistachios Roasted & Salted 0.75ozconsciouSnack Obleas Pistachio Amaranth Wafers (1.05oz)B'cuz | Granola Bites Cherry Pistachio Gluten-Free Snack (1oz)A Nut for Every NeedWhile pistachios are in the spotlight today, let's not forget about the wide variety of nuts available, each with its own set of health benefits. Almonds are great for vitamin E, walnuts are rich in omega-3 fatty acids, and cashews are packed with iron and magnesium. Incorporating a mix of nuts into your diet can provide a broad spectrum of nutrients and health benefits.Visit our website - we are more than snacks, we promote wellness. Perfect for vegans, diabetics, celiac, keto, and more...
What is a Typical Day in a Senior Rehabilitation Facility?
Following surgery or hospitalization for an illness, seniors are typically referred to an in-patient rehabilitation center to aid in their recovery. Senior rehabilitation may include physical therapy, occupational therapy and speech therapy. Because in-patient rehab is for those who require intensive care for an extended period of time additional services are offered, such as assistance with a number of daily needs as well as social activities and counseling.What is a Senior Rehabilitation Center?A senior rehabilitation center is a place for seniors to recover with specific attention on pain reduction and improved function through multiple therapies.Physical therapy helps increase strength and improve mobility, balance and flexibility, as well as manage pain.Occupational therapy assists patients with performing daily activities that often require fine motor skills or the use of adaptive equipment like a cane or walker.Speech therapy helps with communication, swallowing and cognitive skills such as attention and memory problems.What Does a Typical Day Look Like?MorningNurses visit patients and help with personal care tasks such as bathing, dressing and grooming, as needed. Since the goal of rehabilitation is to prepare patients for a successful transition home, the facility simulates a home environment as much as possible. Patients determine their own schedules (within reason), wear their own clothes, and in some cases, have their own personal living space.After breakfast, patients begin physical therapy in a gym setting that features specialized equipment and technology to aid recovery while minimizing pain. Exercises vary depending on the patients needs and abilities. Daily physical therapy builds strength, coordination and balance all necessary to regain independence.NoonPatients have time to recuperate from therapy and socialize during lunch. Options to eat with visiting family and friends, or in their room are also available. Patients meet with the dietitian regularly to discuss food preferences and dietary needs.AfternoonTherapy sessions usually continue after a relaxing lunch. Afternoon therapy might include working with a speech-language pathologist or an occupational therapist. Depending on individual needs, activities might also include shopping, counseling or other activities, such as going on excursions, taking classes, playing games, making crafts or watching live performances, to promote socialization and mental wellbeing.EveningEvening is often a time for relaxing or visiting with family. Following dinner, patients are given ample time to rest up for the next days therapy. Quiet activities such as reading or doing puzzles are encouraged.Colavria Hospitality offers short-term in-patient rehabilitation. Each of our locations provides the perfect mix of therapy, fun and engaging activities, and rest and relaxation that will prepare patients to return home as quickly as possible.Colavria Hospitality currently manages four senior living communities in the Denver metro area which offer a unique mix of care options. Our mission is to provide those we serve with an environment that focuses on hospitality, person-centered relationships, and the well-being of each individual. Each community operates under our Core Principles of Collaboration, Innovation, and Harmony to assure a rich and secure lifestyle for patients as well as a pleasant working environment for our care team. We invite you to take a tour of our facilities.
Top 5 Questions A Certified Medicaid Planner Encounters: Insights for Healthcare Pros and Caregivers
Hello, allow us to introduce ourselves! We are Beneficent, and we provide trustworthy long-term care guidance for deeply caring family members facing a critical long-term care financial crisis.Beneficent helps clients understand, prepare, and qualify for programs covering high costs of Long-term Care including assisted living, adult day care, home care, or skilled nursing homes for seniors and disabled adults.As Certified Medicaid Planers Read our Top 5 questions we hear most.Must I spend down to $2,000 to apply for long-term care Medicaid? No, reducing your assets to $2,000 is not the only route to qualify for Long-term Care Medicaid if your income exceeds the limits. By leveraging legal strategies within Medicaid regulations, we can assist in navigating the income requirements.For 2024, a single applicant is expected to have a resource limit of $2,000, while the limit for a married applicant is about $150,000 If I accept Medicaid assistance will I lose my home?Once a Medicaid recipient passes, the state may seek reimbursement of the amount they paid for in long-term care costs. However, proper planning can protect a home and other assets from a Medicaid claim.I have been told I make too much money to qualify for Long-term Care Medicaid?The best way to figure out your best options is to schedule your first free initial consultation with Beneficent on our home page. (www.doinggoodforothers.com)During that time, we'll review and evaluate your assets to determine if we can help you qualify for a long-term plan4. Is Medicaid Planning legal and ethical?Proper Medicaid planning is legal and ethical and it works to ensure that all rules and regulations are followed.Medicaid planning seeks out effective methods of securing eligibility while preserving assets for the future benefit of the applicant and the applicants loved ones5. Should I apply for Medicaid or VA Aid + Attandance on my own?We appreciate your determination to tackle the application process independently. However, it's important to note that many individuals find themselves facing denials due to the complexity of the process.To support you, we offer a complimentary 1-hour consultation where we share our expertise on how to file for and qualify for these benefitscompletely free of charge.If you feel prepared to dedicate the significant amount of time required and are ready to manage the intricate details involved, we are more than willing to equip you with all the necessary information. Our goal is to ensure that you are informed and confident in whichever path you choose to take, whether it's proceeding on your own or seeking further assistance. Remember, our guidance during the consultation is meant to empower you with knowledge, but navigating the process can still be a challenging endeavor. Call us to schedule an appointment. 719.645.8350 - OR - read more of our FAQs on our website. www.doinggoodforothers.com/faqs
Local Services By This Author
Entrusted Legacy Law
Elder Law 100 Pinewood Lane Suite #303, Warrendale, Pennsylvania, 15086Our Firm Prepares You for Life What makes our firm different is that we were built with the needs of growing families in mind. We understand you are BUSY, you are growing, you are planning for a life of prosperity and you value ease, convenience and efficiency. You are raising children, and caring for elderly parents, while also working hard to build your own nest egg for a lifetime of support. You want to know youve made the best decisions for your family and that your plan will work when your loved ones need it most. You want to make sure your minor children would be raised by the people you choose, and never by anyone you wouldnt want, and that your teens and adult children are properly prepared to care for you and what you leave behind. You want to feel confident that youve made the right choices, and handled everything so that you arent leaving behind a mess, when something happens. That is our focus as well. Weve developed unique systems to give you the same access to a Personal Family Lawyer as was previously only available to the super-wealthy, so you can have the guidance you need to build and maintain a life of prosperity and wealth. And, to keep your family out of court and out of conflict, which is the greatest risk to the people you love and all you have created, even if youve already worked with a traditional lawyer or created documents online. Our Team Is Here for You We encourage communication with our clients. In fact, weve thrown out the time clocks so you never have to be afraid to call with a quick question. Everything we do is billed on a flat-fee basis, agreed to in advance, so there are never any surprises. We have a whole team to serve you. When you call our office to ask your quick question, you wont have to wait hours or days for a phone call back. Youll get your question answered, right away. And, if you need to schedule a more in-depth legal or strategic call with your Personal Family Lawyer, a call will be scheduled when you're both available and ready for the call so we can make the very best use of your time and not waste your time by leaving voicemail after voicemail back and forth. And, we ensure the most important details of your planning are followed through on and your plan continues to work throughout your lifetime. We have a funding coordinator to ensure your assets are owned the right way throughout your lifetime and none of your assets will end up going through a long, expensive court process or being lost to the state because they were missed after your death. Weve created unique membership programs to keep your plan up to date year in and year out as well as give you access to our Trusted Team of Legal Experts for guidance on ANY legal or financial matter. One day you will need a lawyer. I dont know why and I dont know when, but when you do, you will be grateful you can call on us and well be here to advise you or get you out of a jam. We Help You Transfer Your Life and Legacy Lastly, we believe your financial wealth is only a small part of your overall Life and Legacy Planning which is made up of your far more valuable and most often lost upon incapacity or death intellectual, spiritual and human assets. These assets are what make you who you are, and sum up whats most important to you. And, a survey of inheritors has revealed that what they care about even more than inheriting your money, is inheriting these intangible assets. Most estate plans only focus on the transfer of your financial wealth to the next generation. Most people have such great intentions of passing on the intangible, but very few ever get around to it. Its just not a priority, until its too late. How much do you know about your grandparents values? Their most prized personal possessions? How they felt about you? What they had learned during their lifetime? If you are like most people, you know very little. Thats why we build the capture and passage of these most valuable assets into every estate plan we create. Not only will we help you pass on your money, but also your values, your insights, your stories and your experience the truly valuable assets your loved ones care about the most. Weve developed a tool that allows us to capture and pass on your whole family wealth, including your Intellectual, Spiritual and Human assets. I cant go into all of the details here, but well definitely talk about it when you come in for your Life and Legacy Planning Session.