Plan For Your Future
Helping you get the right health coverage or long-term care.
The high cost of long-term care is a very important issue for most middle to upper class seniors and their loved ones. Advanced Medicaid planning can be a great benefit to most elderly adults. The vast majority of people over the age of 65 will need some type of long-term care at some point in their lives. Unfortunately, many of them are unprepared for the financial hardship it will cause. With the median cost of a nursing home in Utah at nearly $7,000 per month, financial devastation is not far behind for most families.
Medicaid pays for about 50% of the Nursing Home costs of Americans.
We care about your long-term health and are here to assist you with all of your elder law and estate planning concerns.
Let's work together to see how you could qualify for Medicaid. Your chances may increase depending on your income, family size, or other circumstances. We're excited to find the best plan for you!
Medicaid offers a variety of financial and healthcare benefits, giving you the opportunity to relax.
Who Medicaid Planning is For
As we continue live longer and long-term care costs continue to increase, the challenge becomes how do we pay for these services. Many people can not afford to pay $7,000 per month for a nursing home or in home care, and for those who can the question is for how long will be able sustain the costs. Thankfully, the various Medicaid programs offered in Utah are there to help with the cost of long-term care.
Medicaid has been commonly referred to as the long-term care insurance of the middle class. Medicaid planning is not for everyone. However, it is right for you if you want to:
- Protect the financial security of the healthy spouse who may outlive the ill spouse by many years or even decades.
- Provide partial assistance for in home or assisted living care, permitting you to stretch your savings further.
- Save/protect the family home or business.
- Place assets in trust for disabled a family member(s) to enhance their quality of live.
- Pass assets on to those of your choosing.
- Save money, personal items and other assets for your loved ones, such as children or grandchildren to assist them in these progressively unstable times.
When obtaining Medicaid eligibility, it is important to also protect assets in order to meet basic needs. We can help you focus on protecting your assets to benefit you and protect your loved ones' inheritance while also receiving benefits from Medicaid.
Want to Learn More?
The rules for Medicaid eligibility change frequently and remain very complex. They differ from state to state, as well as by program. Your application will be time consuming and the review process is always lengthy. Being denied by Medicaid is a severe consequence after investing so much time and mental effort. The stress can negatively impact the health and well-being, which is the reason you are approaching the process in the first place.
Let us help alleviate the stress involved with Medicaid eligibility by helping you with a Medicaid plan. We can help you structure your financial resources, prepare documentation, and ensure the best possibility of being accepted into the Medicaid program. ur law firm has the experience and knowledge to help you avoid the financial ruin associated with the high cost of long-term care.
With your Medicaid planning attorney, we will:
- Create trusts
- Manage asset transfers
- Convert countable assets into exempt assets (this will ensure eligibility while also preserving family resources)
- Protect a family home from Medicaid recovery
- Manage finances to ensure healthy spouses have adequate income for independent living
It is estimated that between 60% and 75% of Medicaid applicants, engage in some form of Medicaid planning prior to submitting their application. It's the wisest way to gain eligibility.