How can I qualify for Medicaid? Far too many people do not realize that this question matters to their financial security. It is a common misconception that only poor people will ever have to worry about Medicaid. This just is not true. Medicaid is the only insurer which pays for the most common types of nursing home care that people end up needing if they get older or if they become disabled. Medicaid also covers lots of things not provided by other insurers, including by Medicare, and provides more comprehensive coverage so families won’t face financial trouble due to high copays and coinsurance costs.
The bottom line is, if you ever need to go into a nursing home or if you develop a serious medical condition that needs costly treatment, you could be in serious financial trouble if you have not thought ahead to answer the question, how do I qualify for Medicaid? The Law Office of Michael Robinson, P.C. can help you to understand the rules for getting Medicaid and can help you to take needed steps to ensure you are covered when you need care to be paid for..
How can I Determine if I Qualify for Medicaid?
Medicaid has strict rules for eligibility. If you live within the state of New York, the best way to learn about the guidelines for getting Medicaid benefits is to visit the website of the New York State Department of Health.
The Department of Health explains all of the qualifying criteria for Medicaid, including the maximum income you are allowed to have and the maximum value of family resources you are allowed to own and still get covered. Both income and asset limits can vary based on the size of your family, as well as based on what category of Medicaid beneficiaries you fit into. Seniors 65 and older, for example, have different qualifying rules than younger people or pregnant women.
The Department of Health website also explains how to apply for Medicaid, and when you can apply online to get covered. The application process can sometimes be complicated, and it can be difficult for some applicants to determine what information they need to provide or how to prove eligibility. The Law Office of Michael Robinson, P.C. can assist you in making certain that you are able to apply correctly and can help you to do everything possible to qualify for Medicaid.
How can I Qualify for Medicaid?
For many people, qualifying for Medicaid is difficult or impossible because you have too high of a family income or because you own too many assets and are thus above the resource limits. This could be a problem if you need care that no other insurance will cover, such as in situations where you require nursing home care.
If your assets are too valuable and you cannot qualify for Medicaid because of it, you could end up having to spend down those assets. This would mean spending your personal wealth to pay for nursing home care. After you’ve sold property that counts as a resource and spent your savings, Medicaid would eventually start to pay benefits for you. Of course, you do not want to spend down all of your family’s wealth, so this method of qualifying for Medicaid is not one that anyone wants to experience.
You can make an advanced plan to qualify for Medicaid while protecting your assets. It is best to do this at least five years before you need nursing home care or other costly medical services if you want to protect the maximum amount of wealth, but you usually can protect a substantial majority of your wealth even if you haven’t planned that far in advance. You should talk with an experienced attorney about Medicaid planning to qualify for Medicaid so your attorney can help you to take advantage of legal tools like trusts that can keep your wealth safe and secure.
Getting Help from A Rochester Medicaid Planning Lawyer
The Law Office of Michael Robinson, P.C. provides assistance to clients of all ages who are planning ahead in case they need nursing home care. We also help families for whom a nursing home admission is imminent when protection of assets becomes vital.
If you are wondering, how do I qualify for Medicaid, or are concerned about your ability to pay for care, give us a call at 585-374-5210 or contact us online today. You can also discover more about the Medicaid planning process and about how to ensure you can get covered by joining us for a free workshop. Reach out today to make your plans so you can protect you assets and ensure your family’s financial security is not jeopardized by bad luck.