As a senior or an individual approach retirement, it is important that you plan for your future. Failure to plan for your future could affect you in several ways as you get older. Without a good plan, which usually include long-term care, your health could be as risk, your finances as well.
So, rather than struggle in your old age, I advise you to contact an elder law attorney to discuss how to plan for your future. However, before you contact an elder law attorney, it makes sense to understand who these professionals are and how they can help you. Lucky for you, I have covered that topic in this article. Before we delve into that, however, let’s take a look at what Medicaid is.
What is Medicaid?
Medicaid is a state-operated health care program that offers medical care coverage for specific low-income individuals and families with inadequate resources. It is also a huge part of the health care system in the U.S. As of September 2018, almost 73 million individuals were enrolled in this government-funded program, and in 2017, the program accounted for 17 percent of national care expenditure.
To enjoy the benefits of Medicaid, you have to qualify. Qualifying for this program isn’t based on Social Security Benefits or even age. Whether you qualify for Medicaid depends on two things: your income and your assets.
If you qualify for Medicaid, the next thing to do is to apply. Because Medicaid is complicated, you may need the help of an elder attorney to guide you through the application process. Also, if you don’t know if you are eligible for this program, it is best you contact an elder law attorney.
Who is an Elder Law Attorney?
Simply put, an elder law attorney is an advocate for the elderly and their loved ones. Most elder law attorneys handle several legal issues plaguing an older or disabled individual, including issues concerning health care, long-term care planning, guardianship, retirement, Social Security, Medicare/ Medicaid, and other crucial matters.
Important Issues and Elder Law Attorney can help with
- Applying for Medicaid
Medicaid can be very complicated given that it has many rules and regulations. There is the look-back period, the income and asset threshold, Medicaid Asset Protection trust, aicand a hits of other things you need to understand to apply for this health care program.
An elder law attorney is who versed in Medicaid and all that concerns it including the eligibility requirements, spend down rules et al, can help you decide to apply for this program. He or she will be able to navigate the complex world of Medicaid rules and regulations and ensure that everything works out find; the way you want it.
- Help you understand and establish your priorities and designate key decisions makers
Elder law attorneys can help you focus on your goals. They can also help you plan your legacy. Your elder law attorney will work with you to note and nominate secondary decision makers who can make crucial financial, medical, or legal decisions on your behalf id you become incapacitated (physically or mentally).
- Care planning and coordination
If you have special healthcare needs, an elder law attorney will help you and your loved ones understand and examine treatment or long-term care alternatives. He or she will help in ensuring that you qualify for all applicable federal and state programs to finance the care expenses.
- Help in handling challenging family situations
An elder law attorney can also help you find solutions to challenging family issues. These issues may be concerning your estate, loved one, divorce, etc.
Need an Elder Law Attorney?
Do you intend on applying for Medicaid but don’t know how to go about it? Or do you wish to set up a Medicaid Asset Protection Trust? If yes, don’t hesitate to call our office. We boast of the best Medicaid attorneys who are experienced in matters regarding Medicaid.