Everyone should understand Medicaid qualifications so they can determine whether or not they will be eligible for Medicaid when they need care. Medicaid could be the only way, other than privately paying, to get nursing home care paid for since Medicare and other insurers only cover nursing homes under very limited circumstances. Seniors who struggle with Medicare costs or who need services not covered by Medicare could also be dependent upon Medicaid for essential services… if they can qualify.
The Law Office of Michael Robinson, P.C. can provide assistance with understanding Medicaid qualifications on income and resources in New York. If your income is too high for you to qualify for coverage or if you have too many resources, we can help you to determine if the use of trusts and other Medicaid planning tools could make qualifying possible so you could get covered. Give us a call to find out more about how a Rochester Medicaid planning lawyer could help.
Medicaid Qualifications on Income and Resources in New York
Medicaid qualifications in New York include many different requirements. The New York State Department of Health explains what criteria applicants have to meet in order for those applicants to be eligible for benefits coverage.
Among other requirements, the Department of Health explains that you cannot get Medicaid if either your income is too large or you have too many assets and resources. Limitations exist for getting covered by Medicaid because the program is supposed to be for people who cannot afford care and who need the government to pay the bills.
There are different income and resource limits for different groups of people who may qualify for Medicaid. For example, seniors 65 and older have different rules than single people or couples with no children. The Department of Health provides a table on its website which can be referred to in order to find both the income limit and the resource limit based on your family size and the qualifying group you fall into.
According to this table, for example, a person with a family size of one who is 65 or older and who wants to qualify for Medicaid could be eligible if his income is $9,900 per year or less, and if he has resources of $14,850 or less. If a person is under 65, single, and has no kids, his maximum income with a family size of one person would be $16,395 annually. Since both the income and resource limits are low, it can sometimes be hard to qualify for Medicaid even if you really do need to get covered.
How to Make Sure You Can Qualify for Medicaid
If you are concerned that your income or your family resources are too high and you will thus be disqualified from Medicaid, you should talk with an experienced attorney. You may come to rely upon Medicaid to pay for nursing home care, which can cost more than $150,000 annually, since private insurance providers and Medicaid only cover skilled services. If you have made advanced plans to appropriately structure income and assets, it is often possible to protect your family’s wealth while getting covered for important benefits.
The Law Office of Michael Robinson, P.C. can assist you in using trusts and other Medicaid planning tools that reduce your countable assets or allow you to get covered despite an income that is above the normal eligibility cap. Because Medicaid looks back over a five year period of time and can temporarily disqualify you from coverage if there is evidence you transferred assets, you should make your plans as early as possible.
Acting long before Medicaid coverage is actually needed can help you to protect the maximum value of your family’s wealth and can give you peace-of-mind of knowing that a need for nursing home care won’t devastate you and your loved ones.
Getting Help from A Medicaid Planning Lawyer
The Law Office of Michael Robinson, P.C. can explain Medicaid qualification rules to you and can assist you in determining whether or not you can qualify based on your personal and family income and assets. If you are worried about not being able to qualify for Medicaid when care is needed, our legal team can help you to make certain that you are able to get covered.
To find out more about how Medicaid planning can help you to meet Medicaid qualification requirements, join us for a free seminar. You can also give us a call at (585) 546-1734 or contact us online to to speak with an experienced attorney about your personalized plan to become qualified for Medicaid coverage. Call now so our legal team can get to work helping you to get covered.