Medicaid has become the single largest provider of financial assistance for nursing home residents in the United States. Why? Long-term care is so expensive that most families exhaust their hard-earned life savings within one or two years of a family member moving into a nursing home.
Medicaid planning involves protecting assets against the cost of long-term care. There are two main forms of Medicaid planning—long-term care planning and Medicaid crisis planning.
Long-term care planning is for people who are healthy now but want to prepare for the possibility that they will need expensive long-term care in the future. Given that almost three out of four people age 65 and over will require long-term care at some stage in their lives, long-term care planning is extremely important.
Our Indianapolis Medicaid attorneys help clients remain independent for as long as possible, while at the same time taking steps to protect their life savings in the event of incapacity and the need for long-term care. We also help clients obtain assistance from Medicaid and/or the Veterans Administration to pay for long-term care.
It is important to note that there are strict laws governing eligibility for Medicaid benefits to pay for long-term care. Many people think they can simply give money and property away to loved ones in order to become eligible. While gifting is certainly possible, there are severe penalties for doing so improperly, including the denial of benefits for several years.
Contact our Indianapolis Medicaid lawyers to discuss your particular situation. We can help you plan in advance to protect your life savings and help you become eligible for Medicaid assistance and/or veterans benefits.
Coping with a Medicaid crisis situation
We define a Medicaid crisis as a situation where an individual has already entered a nursing home, or will be admitted to one soon, and been informed that he or she has too many assets to qualify for assistance from Medicaid. If you or someone you love is facing a Medicaid crisis, you must understand that laws governing Medicaid eligibility are complicated and ever-changing. Information provided by friends, nursing home personnel, and even social workers is often outdated or simply incorrect. We understand these laws and can work to get you eligible for Medicaid assistance as quickly as possible. We can also help you explore various Medicaid waver programs that can keep you out of a nursing home longer. Contact our Indianapolis Medicaid crisis attorneys today to discuss your particular situation. You are not alone during this difficult time. We are here to assist you.