Medicaid Planning

MEDICAID PLANNING ATTORNEY IN SUN CITY CENTER AND TAMPA, FLORIDA

Medicaid Planning
Nurse and old man — Real Estate in Sun City Center, FL
Nursing home care can be extremely expensive and can quickly deplete the assets that one has worked hard for years to accumulate, leaving nothing to pass down to one's heirs. Contrary to a widely held belief, that Medicare will help pay for nursing home care, the only help available beyond savings or long-term care insurance is Medicaid. Medicaid, however, requires that an individual spend down assets before they can become eligible. Most individuals or their families will begin to transfer or selling for less than fair market value the individual's assets believing that this will exclude them from being counted as assets for Medicaid eligibility purposes; however, it is important that the individual or the individual's family seek legal assistance before transferring any assets that could disqualify the client for Medicaid due to the look-back period imposed by the government. This look-back period could inadvertently disqualify an individual from receiving Medicaid benefits.
Medicaid qualification rules can be confusing, especially if only one spouse needs nursing home care (the "institutionalized spouse") and the other spouse continues to live independently (the "community spouse"). The community spouse is entitled to maintain certain assets and may even be entitled to a portion of the institutionalized spouses income so the community spouse may maintain his or her standard of living. Through use of Medicaid Planning, Donald B. Linsky & Associates, P.A., can help the elderly client preserve his or her assets for a community spouse or for his or her family and establish eligibility for Medicaid.
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