Many senior citizens need long-term care at some point. Some senior citizens do not have family members who can give them the kind of care they need, and because of that as well as many other factors, they will need nursing home care.
But nursing home care and other long-term care arrangements are expensive. Medicaid can help fund these things, but you must meet the financial qualifications. Estate planning is critical for many people to be able to qualify. At Scott Estate Law, our estate planning attorney in Maryland will walk you through the estate planning process and help you begin planning for Medicaid early so that you and your spouse will qualify if or when the time comes and you need the help. Call 443-800-1937 to schedule a free 15-minute consultation today.
What is Medicaid?
Medicaid is a federal program that provides healthcare coverage to individuals as well as families that are low income. Costs of this program are typically covered by a combination of federal and state funding. Services are provided to those with limited financial means so that they can obtain the medical care they need with limited out-of-pocket costs.
Medicaid also provides coverage to disabled people in some situations. It can assist the elderly with paying Medicare premiums.
Planning for Medicaid in Maryland
Before submitting an application for Medicaid, many people go through a process known as Medicaid planning. Medicaid planning is assessing a potential applicant's ability to receive Medicaid and taking steps to improve their chances of receiving it.
Why People Plan for Medicaid
There are multiple reasons why people engage in Medicaid planning in order to qualify for the program. Three common reasons are:
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To obtain coverage for the cost of long-term care that they would not otherwise be able to afford;
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To preserve assets that may otherwise become part of Medicaid's estate recovery program; and
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Because the Medicaid application process can be confusing, getting assistance from someone who understands how it works can prove very beneficial in the long run.
Medicaid planning benefits people who really need the services provided but fear they may not qualify. If you do not have the financial resources or family members who are able to care for you when it becomes harder for you to do it yourself, you should speak to an attorney to plan your estate. Qualifying for Medicaid can be a big help just when you need it.
Contact an Estate Planning Lawyer in Maryland for Medicaid Planning Today
At Scott Estate Law, our estate planning lawyer understands the importance of Medicaid eligibility for so many seniors who need long-term care. Unfortunately, so many people learn about estate planning for Medicaid when it is too late. Start early to avoid future problems and make sure you qualify for Medicaid when you most need it.
Contact us either by using our online form or calling us directly at 443-800-1937. We will schedule a free 15-minute consultation and help you get started on Medicaid planning today.
