Protect Your Loved Ones and Secure Your Healthcare Access with Medicaid Planning for Families

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Platinum Benefit Services, Inc.

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Aug 03, 2023

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Florida - Southwest

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Medicaid is a US government initiative that offers long-term healthcare coverage to individuals with limited financial resources. The application process is complex and can be overwhelming. In this blog post, we will explore the significance of Medicaid planning for families, highlighting how it can help protect loved ones and ensure access to necessary healthcare services.

How Medicaid Planning Is Important for You:

Medicaid is a lifeline for millions of families that gives access to long-term care and financial support to families with limited wealth. This program is designed for low-income households who don’t have the financial resources to cover expensive medical costs. Medicaid covers many services, including doctor’s visits, hospital spending, prescription remedies, and nursing home care.

The Significance of Medicaid Planning for Families:

Medicaid planning helps families to navigate the complex guidelines of Medicaid regulations and eligibility criteria. It is suggested to work with knowledgeable professionals to get a comprehensive strategy to protect your assets and also qualify for Medicaid benefits. In Medicaid planning for families, the expert will analyze and restructure assets, implement legal tools like trusts, and look into all aspects. With careful planning, families can qualify for the eligibility and save their hard-earned money.

How Medicaid Planning for Families can Help You:

Medicaid planning for families offers numerous benefits that help you in long-term care. It helps to protect your money from exhaustion with expensive medical bills. The professionals will strategically arrange your assets and help families with increased chances of qualifying for Medicaid. Medicaid planning provides peace of mind by protecting your wealth without having you to compromise on any level.

Benefits of Partnering With Professionals or Attorneys:

Medicaid planning is complex, and you need deep technical knowledge to understand the program and how to use it. Therefore, hiring professionals with years of expertise can be a game-changer. They can guide you and your family through the entire process, help you understand all the criteria, navigate pitfalls, and build customized strategies to achieve Medicaid goals.

Over to You:

Medicaid planning for families is a valuable solution where you can protect your loved ones and secure healthcare support. With proper planning and expert assistance, families can navigate the complex processes of Medicaid regulations, preserve their assets, and ensure long-term care without financial hardship. Platinum Benefit has helped families with their Medicaid plans for a brighter and more secure future for decades.


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Top 6 Reasons You Should Have Your House In A Trust

Many people believe that having a Will is all they need, and they dont need an estate plan. Over the years we have worked with many families who only had a Will, and no provisions for needing care in a nursing home. As a result, the healthy spouses financial security was neglected and the family went broke.Many of my clients who want to protect assets from long term care costs, own their houses in an asset protection trust. These are the top 6 reasons why our clients decide to use this trustWhile Your Parents Or Grandparents Didnt Have An Asset Protection Trust, They Didnt Often Need Long Term Care. They likely had family members nearby caring for them.Statistically speaking, your odds of needing long term care are increasing. Estimates point to two out of three people who will need long term care in nursing homes in their 80s. Nursing homes currently cost $15,000 a month, and they will cost even more 20 years from now. 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This is often beyond our control, but what we can do is to prepare for all eventualities, by protecting our house with a trust. Medicaid Is The Only Government Payment Source For Long Term Care, But The Rules Are Broken. If youre a single person going to a nursing home, youre allowed to own up to $8,000 of assets, a house and car. A couple with $100,000 in a retirement account, must spend that money on care in the nursing home. Once the money is gone you can apply for Medicaid benefits. However, your monthly income is used to pay for care, and you are only allowed to keep $45 a month for all your personal needs. We have a situation where seniors are going broke before they get Medicaid benefits. Theyre allowed to own a house but if they have no money, they cannot pay property taxes, utility bills or maintenance costs.Assuming your child is a power of attorney, they may sell your house to avoid paying the taxes and bills. 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Platinum Benefit Services, Inc. is committed to helping families gain maximum government benefits for Long Term Care and providing both compassion and application expertise.  Since 1996, we have helped more than 10,000 families qualify for Medicaid while strategically protecting an estimated $1,000,000,000 in assets in conjunction with appropriate legal counsel.Platinum works diligently to process all types of long-term care applications with a specialization in complex nursing home applications for families who employ high end asset protection strategies. Platinum Benefit Services, Inc. are experts in the field of nursing home Medicaid application processing.