Medicaid Planning
Medicaid planning is the process of preparing to apply for Medicaid, a government program that provides healthcare coverage to qualified, low-income seniors, families, and individuals. Medicaid planning is incredibly important because it ensures that long-term care can be accessed without depleting financial resources. At BBA Law in Shelby Township, MI, our elder law attorneys offer long-term care support and Medicaid planning resources to make your life easier and help secure the care you or a loved one needs.
Reasons to Invest in Medicaid Planning
Acceptance into the Medicaid program is not a given. To ensure your best possible chance of receiving long-term assistance, it is wise to get professional, legal support. There are many reasons people want or need Medicaid, but here are just some of the reasons it is worthwhile to invest in Medicaid planning:
- Complete application properly: Proving eligibility for Medicaid is complicated. Just one small and seemingly insignificant error can result in a denial of benefits. Guidance when applying is critical to ensure every detail is provided and every question answered.
- Save time: A law firm that offers Medicaid planning saves time and unnecessary stress by carrying out large portions of the application process. An attorney’s knowledge and efficiency can also get an application submitted sooner.
- Secure long-term care: Long-term care is very costly. With the help of Medicaid planning, it is possible to ensure that a loved one gets the care they need, care that might otherwise have been unaffordable. This might involve Medicaid divorce, protection trusts, or other strategies.
- Protect a loved one’s future: You may not foresee a need for Medicaid right now, when people in your life are healthy and thriving, but anything could change in a heartbeat, especially for older family members. Smart Medicaid planning with a legal representative is a tremendous help when the time comes to request benefits.
- Protect resources: The goal of Medicaid planning is to maximize possible resources from Medicaid without depleting existing resources. A healthy spouse or family member needs the financial resources to live comfortably now and later, and an elder law attorney can help see you through these major financial and healthcare decisions.
Services Provided Through Medicaid Planning
Professionals who offer Medicaid planning provide a range of services in preparation for a Medicaid application, particularly when it comes to determining Medicaid eligibility and protecting your resources. An elder law attorney’s services often include:
- Information collection: Financial, medical, and personal information is not always easily or readily available. An attorney makes this information-gathering part of the Medicaid planning process much easier thanks to access to important resources at their fingertips.
- Finances review: It is possible to make too much money to qualify for Medicaid benefits. A long-term care attorney reviews all finances and assets with you to determine how your income could affect a Medicaid application and what changes might be wise to make before submitting a request.
- Asset restructuring: There are many ways to restructure assets to reach the Medicaid asset limit. Your attorney will review options, which might include making home upgrades, paying off debt, or purchasing medical equipment not covered by insurance.
- Document preparation: When you are focused on simply getting a Medicaid application submitted, it’s easy to overlook a requirement of the application. Document preparation assistance makes sure that every item is accounted and no details are overlooked.
- Income changes: A common roadblock in a Medicaid application involves monthly income. If resources exceed financial eligibility limits, converting income, spending down income, and countable and non-countable resources are possible nuanced planning methods.
Get Medicaid Planning in Shelby Township
The Medicaid application can be complex and confusing if attempted solo or too early. Contact us and work with our team at BBA Law to learn everything you need to know about proper Medicaid planning and increasing eligibility.
