Medicaid Crisis Planning

It’s never a good time to suddenly have to move into a nursing home or skilled nursing facility. But especially for older adults, the reality is you probably can’t predict when you will no longer be able to live without assistance.

According to data from the U.S. Department of Health and Human Services, an estimated 70% of adults who reach age 65 will require some form of long term care services in their remaining years.

A crisis is no time to go it alone. If you or a loved one unexpectedly have to rely on long term care, the right Medicaid planning attorney can help you pay for the services you need and limit your financial exposure.

Medicaid Eligibility

You may already know that nursing home care can be very expensive—the average daily cost of long term care in the Midwest is approximately $135 per day!

Besides any long term care insurance or Veterans benefits you may be eligible for, the most common ways to pay for long term care are out of pocket or through Medicaid benefits. Medicaid is a state and federal program designed for low-income individuals and people with disabilities.

A qualified elder law attorney is well-versed in all applicable Medicaid laws, and will help you qualify if you don’t already.

Learn more about Medicaid and long term care planning.

Applying For & Understanding Medicaid Benefits

Applying for Medicaid to cover long term care expenses can be overwhelming—the program is separately administered by each state, and the income limits and regulations vary based on where you live.

A Medicaid crisis planning attorney can help you: 

  • Determine whether you’re eligible for Medicaid
  • Manage the Medicaid spend down process
  • Fill out any applicable Medicaid applications
  • Shield your assets from penalties

There’s a lot of misinformation out there, and navigating the Medicaid bureaucracy can be challenging. Baron Law LLC is well-versed in Ohio Medicaid law and will help you separate fact from fiction.

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Navigating the Medicaid Spend-Down

Medicaid is a means-based program that is only available to individuals who qualify as low income. Generally in order to qualify for Medicaid, many individuals must “spend down” their assets—including their home, bank accounts, and retirement accounts—to less than about $2,000. But it’s important to note that some spending restrictions apply.

Common expenditures during the spend down period include:

  • Outstanding debt from a mortgage, vehicle loan, or credit card
  • Current and past medical bills, including transportation services
  • Other medical expenses, such as hearing aids or glasses

Asset Protection and Avoiding Medical Penalties

Whether your needs include a nursing home, skilled nursing facility, or assisted living facility, finding a way to finance your care that minimizes financial exposure is essential.

When it comes to Medicaid enrollment (and especially for crisis planning), your plan should be geared toward avoiding steep financial penalties—including those related to the so-called Medicaid “look back” period.

The right Medicaid crisis plan can help you:

  • Ensure you have sufficient funds to pay for your care
  • Preserve your estate
  • Ease the stress on your family members and loved ones

Before an unexpected crisis occurs, long term care pre-planning can help prevent headaches for you and your family by considering your needs going forward. Learn more about Long Term Care Planning.

How Baron Law Can Help in a Time of Crisis

Unexpected changes in health can be a major burden on both individuals and families. Whether you need Medicaid crisis planning or have a loved one who requires assistance, getting help from an experienced crisis planning attorney can make all the difference.

Baron Law LLC is an estate planning and Medicaid planning law firm that will work quickly to help you pay for the care you need and protect yours or your family’s assets. With over 60 years of combined experience, we’ve seen it all. And we’ve studied the long term care rules and regulations so you don’t have to.

To learn more about our services, fill out our contact form or visit us at one of our four offices throughout the Cleveland, Ohio area.

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