Medicaid Planning and Asset Protection

Medicaid Planning & Asset Protection

In these times of great medical advances people are living longer than ever before. Because of this, it is expected that may seniors will require some form of long-term care. Unfortunately, many seniors are not ready for the huge financial burden long-term care places on their and their family’s hard-earned savings. Even those who have worked hard to plan ahead are often surprised by the enormous expenses of long-term care and realize all their planning wasn’t enough.

You Can Expand Your Long-Term Care Options

Few seniors are able to afford private pay care without also wiping out their savings in a matter of months. Some security and peace of mind can be gained by planning ahead and purchasing long-term care insurance. Unfortunately, many can’t afford the high cost or cannot qualify for long-term care insurance. But, even those who do have long-term care insurance should be familiar with what their policy covers. Many policies have high deductibles or do not provide care for the length of time needed in that individual’s circumstances.

Medicaid or VA benefits may be the best options to cover the cost of long-term care for seniors who have no other way to finance it. Medicaid provides medical assistance to low-income individuals, including those who are 65 years or older, disabled or blind. Almost the entire cost of nursing home care may be covered for those who qualify.

Focusing on Medicaid Eligibility

Medicaid provides medical assistance to many individuals, including those who are 65 or older, disabled or blind. Medicaid is the single largest payer of nursing home bills in America. Although eligibility rules vary from state to state, federal minimum standards and guidelines must be observed. Our experts are well-versed in the guidelines for Texas and can help guide you through the process. Let our legal team provide a comprehensive plan that will help put you mind, and wallet, at ease.

The regulations governing Medicaid and VA eligibility are complex and confusing. Brandy Austin Law Firm can make sure that your assets are protected from the cost of nursing home care while providing security for your spouse and a legacy for your children.

Another Option May Include Veterans Benefits

Veterans or their widows may be eligible for additional income through the Veterans Aid and Attendance Program. VA Aid and Attendance (A&A) benefits are for veterans and surviving spouses who require the regular attendance of another person to assist in eating, bathing, dressing and undressing, or taking care of the needs of nature. It also includes individuals who are blind or a patient in a nursing home because of mental or physical incapacity. Assisted care in an assisting living facility also qualifies.

Qualifying applicants may receive a pension or survivor’s benefits, plus additional money to pay for medicine. We understand the difficult financial situation that veterans and their widows face. We are are here to help you. There are no hidden fees. We charge a flat fee for all of our planning services. Call us today to speak with our friendly and knowledgeable attorneys and legal professionals today at 800-958-4948.

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