Medicaid Planning

Americans are living longer than ever before, and many people eventually require long-term or nursing home care. How many? Nearly one in two women and one in four men find themselves in nursing homes at some point in their lives. Unfortunately, nursing home care is very expensive, averaging anywhere between $6,500 and $9,000 per month depending on what part of Missouri or Illinois in which you reside. Worse, Medicare will not pay for long-term or custodial nursing home care. Little wonder, then, that two out of three families run out of money within the first year of a prolonged nursing home stay.

So, are you destined to go broke if you need nursing home care? Absolutely not! At Jones Elder Law, we can help you qualify for assistance from Medicaid, without spending down all your income or giving up most if not all of your assets. We can also put a number of powerful legal tools to work on your behalf to prepare financially for a nursing home stay, including promissory notes, life estates, annuities and trusts, just to name a few.

Medicaid laws are always changing, but one aspect of them never does: The further you plan ahead, the more options you have. With proper planning you are never completely out of options. Even when you or a loved one is already in a nursing home, we can use a number of legal provisions to help you get the Medicaid benefits you may be entitled to without losing everything you have worked to save. At Jones Elder Law, we can help you prepare for the possibility of eventual nursing home care in advance, or in response to an unanticipated “crisis” situation – and protect your estate for your spouse and children

What is a Medicaid crisis? We define it as a situation where a person has already been admitted to a nursing home-or will be placed in one in the near future – and has been informed that they have too many assets to qualify for Medicaid assistance. You should know that the information provided by nursing home intake staff, social workers, Medicaid workers, and other well-meaning professionals is often incorrect. Their intentions are good, they care deeply about your well-being, but they simply do not know the subtle nuances and ever-changing laws surrounding Medicaid eligibility. If you or someone you love is currently facing a Medicaid crisis situation, please contact us immediately to learn how we may be able to help. We can show you a number of ways to get assistance from Medicaid and protect your life savings. During times of crisis it is imperative that you act immediately to protect those you love.

Non-crisis Medicaid planning is for people who are currently healthy but want to ensure that if they do become incapacitated, they will be prepared and able to protect their life savings. We have designed numerous plans that allow individuals and families to protect their assets and adequately manage their personal and financial affairs in the event of incapacity. It is extremely important that a firm that focuses on elder law prepares your plan. Having a well-drafted plan in place not only ensures you will be well cared for if you become incapacitated, it can help you enjoy greater peace of mind.

The greatest advice we can give you regarding the Medicaid application is this: Don’t file on your own unless you are absolutely certain you qualify. This is because once you apply; the flexibility to best protect your assets may be gone. If your level of wealth shows that you have more than the allowable amount, you will be required to spend-down your assets.

Applying for assistance from Medicaid successfully involves accurately filling out piles of paperwork and answering many confusing questions. Only an experienced elder law attorney can give you the best chance of receiving the assistance you may be entitled to. Please call us today before you file a Medicaid application. We can quickly determine if it is possible to save you money. But if you have already filed and were denied benefits, don’t despair! We may be able to help you win an appeal.