Medicaid is now the single largest provider of financial assistance for nursing home residents in the United States. This is not surprising, considering the cost of nursing home care and the number of families who must place a loved one in a nursing home.
Medicaid planning focuses on protecting assets against the high cost of long-term care. There are two main types 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 financially for the possibility that they will need expensive long-term care in the future. Given that almost 70 percent of people age 65 and over will need long-term care at some point, long-term care planning is extremely important.
Our Ohio Medicaid planning attorneys help clients remain independent for as long as possible, while at the same time taking steps to protect their life savings if they become incapacitated and require long-term care. We also help clients obtain assistance from Medicaid to pay for long-term care.
You should know that there are strict laws governing eligibility for Medicaid benefits to pay for long-term care. Many people are under the impression that they can simply give property and money away to loved ones to become eligible for Medicaid assistance. While gifting is possible, there are severe penalties for doing it improperly. This includes denial of benefits for several years.
Contact our Ohio Medicaid attorneys to discuss your particular situation. We can help you plan in advance to protect your life savings against the high cost of long-term care and, given your particular situation, help you become eligible for assistance from Medicaid and/or veterans benefits.
Coping with a Medicaid crisis situation
A Medicaid crisis is defined as a situation where an individual has already entered a nursing home, or must be admitted to one soon, and has been informed that he or she has too many assets to qualify for Medicaid assistance.
If you or a loved one is facing a situation like this, you must understand that laws governing Medicaid eligibility are complicated and change over time. Information provided by family, friends and others is quite often outdated or just plain wrong. If you are indeed eligible for assistance from Medicaid to pay for long-term care, we can work with you to obtain it as quickly as possible. Even if you are already in a nursing home, or been denied assistance in the past, we may be able to help. Contact our Ohio Medicaid crisis attorneys today to discuss your situation. You are not alone during this difficult time. We are here to help you.