Emergency Medicaid Planning: Mitigating the Damage of Inept Planning and Changed Circumstances

Description

The costs associated with long-term care along with stringent eligibility requirements for Medicaid solidifies the importance of planning for those expenses. Elder law counsel and advisers must implement planning methods to ensure Medicaid eligibility in case of an emergency or changed circumstances.

Medicaid eligibility hinges on both the financial and medical needs of an individual. The requirements and rules are specific for each state and demand careful analysis to ensure eligibility. In all states, the income and assets of an individual are vital factors in determining eligibility. Exceeding the income and asset limitations for Medicaid benefits can derail efforts in obtaining necessary care.

Inept planning for Medicaid eligibility to cover the costs of long-term care can bring about the need for emergency strategies to avoid rash decisions impacting the overall assets of the individual in need. Elder law counsel must be knowledgeable of both federal and state rules in determining Medicaid eligibility and available asset protection methods in light of the income and asset limitations imposed by those rules.

Listen as our panel discusses factors in determining Medicaid eligibility, the use of spend-down techniques, and other methods to ensure Medicaid eligibility.