5 Things to Know About Medicaid Planning

In too many cases, nursing home residents drain all of their assets on long term care. Fortunately, our Medicaid attorneys can help your family plan for nursing home care before it costs you your life savings. Continue reading to get the facts about Medicaid planning and what you should know before you retire or need to be admitted to a nursing home. For more information on how to avoid a Medicaid spend down, schedule a consultation with our elder law attorneys today.

What is Medicaid?

Medicaid is a health insurance program funded by the state and federal government for people who have very low income and are elderly, blind, or disabled. It’s important to understand that Medicaid may cover some (not all) of nursing home costs, which is why we recommend hiring our estate planning attorneys to protect your assets.

Each state (including Florida) operates the Medicaid program locally through its social services department. This department determines Medicaid eligibility by setting limits for income and assets. Our attorneys can help you fill out your Florida Medicaid application and understand how Medicaid fits into your retirement planning.

Am I eligible for Medicaid?

Medicaid eligibility is based on financial need. To apply for Medicaid, you must prove that your assets and income don’t exceed limits set by the government. Our elder law attorneys will know how to apply for Medicaid so you can get the financial assistance you need for nursing home care. Medicaid insurance covers essential health care services.

Medicaid eligibility varies from state to state and can be complicated. Although Medicaid is controlled at the federal level, each state establishes its own:

  • Medicaid program
  • Type, amount, duration, and scope of services
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