Medicaid for long-term care may be going away. Learn to protect yourself at our free seminar.

Medicaid for long-term care may be going away. Learn to protect yourself at our free seminar.

Medicaid for long-term care may be going away.Nursing homes in our area can easily cost $10,000.00 a month, and Medicaid coverage may have barriers… Like the Medicaid spend-down… Like the 5 year look-back period… Like penalties for making gifts.

If you are not aware of how this system works, you should be. Medicaid has become, by default, the long-term care insurance of middle class Americans. Qualifying for Medicaid for long-term care may be the only thing standing between your wife or husband living in poverty if you need nursing home care.

But Medicaid for long-term care will become increasingly unavailable to the middle class in the rush to cut benefit programs, both in Washington and Harrisburg. We can show you what you can do to protect yourself.

There is good news however. If you plan early enough, it will always be possible to protect assets no matter what budget cuts come down the road. The trick is to plan before the five year look-back period comes into play. This means you have to plan for long-term care when you are too healthy to need it or even to think about it. I know this is contrary to human nature – “I’m never going into a nursing home!” But tough times call for clever measures. Planning early can make long-term care available to you, when you need it, without going broke.

Let us show you how to stay ahead of the curve. Come to one of our free seminars:

•   Tuesday, September 27 at 2:00 p.m.
•   Tuesday, October 4 at 6:00 p.m.

September 27, 2011 | admin | No Comments »

Medicaid Myths

Medicaid Myths Explained by Pennsylvania Elder Care Attorneys Levandowski & Darpino

Medicaid is the only government program that will pay for care in a nursing home.  It is also the most impenetrable program that we have ever dealt with.  Information available to the public is often confusing, only partially correct, or downright wrong.  This misinformation has led to a number of commonly believed Medicaid myths.  Some of these myths are exposed in this post.

MYTH:  “I have to give everything I own to the nursing home.”

THE TRUTH:  The nursing home does not want your property.  What they want is to bill you every month at their private pay rate.  Although Medicaid would like you to spend down all of your assets (until there is only $2,400 left!), the truth is there are legal steps you can take to protect a sizable portion of your assets and still be eligible for Medicaid. Even if you are already in a nursing home.

MYTH:  “I have to wait 5 years to get Medicaid if I give any of my assets or property away.”

THE TRUTH:  There are legal strategies for dealing with the “5 year look-back period.”  Even if you wait until you are ready to go into a nursing home or are already in a nursing home before taking advantage of these strategies, you will not have to wait 5 years to get Medicaid.

MYTH:  “My husband and I have separate property and we even have a prenuptial agreement, so my property is protected if he goes into a nursing home.”

THE TRUTH:  Medicaid ignores prenuptial agreements. When a married person applies for Medicaid, assets in either or both spouse’s names are considered by Medicaid to be available for long term care.

MYTH:  “Medicare will cover my nursing home expenses.”

THE TRUTH:  Medicare only covers a small portion of nursing home care.  Many people are surprised to learn this.  Medicare only pays for skilled care in a nursing home.  Skilled nursing home care is usually needed after discharge from a hospital where a patient needs physical therapy or some other type of rehabilitation.  In this situation, Medicare will pay up to 100 days of rehabilitation.  After rehabilitation ends or the 100 day limit is reached, Medicare coverage stops.

These are only a few of the Medicaid myths that we frequently encounter.  More myth-busters will be provided in future posts.

May 2, 2011 | admin | Tags: , | No Comments »

Will There Be Big Changes for Medicare?

Medicare is going to be one of the major issues in the 2012 presidential campaign.Medicare is going to be one of the major issues in the 2012 presidential campaign.  The Republicans are proposing that everyone under age 55 lose the traditional fee for service Medicare that has been in place since 1965.  In its place, the federal government will issue vouchers to senior citizens to purchase private health insurance.  In effect, the federal government will delegate senior citizens’ healthcare to private insurance companies.

It is the old small government versus big government debate.  Who do you trust more:  big business or big government?  Let’s rephrase that question.  Where does any individual have more influence?  With big business as a customer, maybe among thousands nationwide?  Or as a voter of local congressmen, congresswomen, and senators?

It will be an interesting debate.  A whole lot will be riding on the outcome.

I, for one, will be following closely.

April 14, 2011 | admin | No Comments »