If you do not yet have a Medicaid planning component in your estate plan, you should consider adding one. Although you may have never before needed to rely on Medicaid, that could change when you reach your retirement years. In fact, a Medicaid planning attorney at Nash Bean Ford & Brown LLP explains what a Medicaid trust is and why you might need one. Why Do I Need to Worry about Medicaid? If you (or a spouse) need long-term care (LTC) at some point, there is a good chance you will need … [Read more...] about What Is a Medicaid Trust?
As much as we all would prefer not to think about, we all stand a chance of ending up in a nursing home as a senior. In fact, the longer you live, the more likely it becomes that you, or your spouse, will need long-term care (LTC). Given the high cost of LTC, it should not be surprising that over half of all seniors currently living in a long-term care facility depend on Medicaid to help them with the high cost of that care. You may have heard about how difficult it can be to qualify for … [Read more...] about Can Medicaid Go after My Estate Assets after I Die?
Like many people, you may have made it all the way to your retirement years without ever needing to rely on Medicaid to help cover your healthcare bills. As a senior,, however, there is a very good chance that will change, and if you fail to plan ahead, you may not qualify. The first step in the planning process is to learn what the eligibility requirements are for a senior. Toward that end, the Moline Medicaid attorneys at Nash Bean Ford & Brown, LLP offer some basic guidelines for … [Read more...] about Do You Qualify for Medicaid for Seniors?
The average American can now expect to live almost twice as long as his/her ancestor did just a century ago. Living longer, however, also comes with an increase in the likelihood of needing long-term care (LTC). If you do end up needing LTC, the high cost of that care also means you may end up turning to Medicaid for help covering your LTC expenses. To qualify for Medicaid though, you cannot exceed the program’s (very low) income and asset limits. Where does that leave your spouse, however, if … [Read more...] about Medicaid Attorneys Explain the Community Spouse Rules
In the United States, the average life expectancy has almost doubled over the last century. While advances in medicine and science now allow us to live much longer, a way to stop the natural aging process has yet to be discovered. The combination of a longer life expectancy coupled with the physical and mental effects of the natural aging process increase the likelihood that you will need nursing home care or in-home care at some point during your retirement years. Like most seniors, you … [Read more...] about Will Medicaid Cover at Home Care?
Like many people, you may never have given your eligibility for Medicaid benefits a second thought because you have never needed to qualify for Medicaid. There is a very good chance, however, that you will need the benefits Medicaid offers at some point during your retirement years. If that time comes, and you failed to plan ahead, you may find that qualifying for Medicaid puts your hard-earned assets at risk. The way to prevent that from occurring is to understand the Illinois Medicaid … [Read more...] about Illinois Medicaid Eligibility — Do You Qualify?
One of the things you need to start thinking about as you get older is the possibility that you will need to pay for long-term care at some point down the road. Failing to plan for the possibility can potentially put your hard-earned assets at risk should the possibility become a reality. How can the need for long-term care (LTC) threaten your assets? The answer can be found in the eligibility requirements for Medicaid. Unless you can afford to pay for LTC out of pocket, you will likely need to … [Read more...] about Can a Medicaid Lawyer Help Set Me Up to Qualify for Benefits?
Like the majority of people, you may make it through your entire working years without the need to rely on Medicaid benefits to cover your healthcare expenses. As a result, you may know very little about the Medicaid program. Your lack of knowledge may not concern you given the fact that you have never needed to turn to Medicaid in the past. Unfortunately, what you don’t know about Illinois Medicaid could hurt you in the future though. To prevent that possibility from occurring, you should take … [Read more...] about What You Don’t Know about Illinois Medicaid Could Hurt You
How to Qualify for Medicaid Many seniors suddenly find themselves facing the need to qualify for Medicaid benefits after a lifetime of being covered by other insurance. The sudden need to qualify for Medicaid typically stems from the need for help covering the high cost of long-term care. If you are one of those seniors, you may be uncertain where to start, what the eligibility criteria are, or how to qualify for Medicaid in general. Moreover, you may find that your assets exceed the Medicaid … [Read more...] about How to Qualify for Medicaid
Medicaid planning is something that most people should include as part of their overall estate plan long before they reach retirement age. If you have never before relied on Medicaid to cover your healthcare costs you may be wondering why you would need to do so in the future and, consequently, why you need to include Medicaid planning in your estate plan. The answer can be found in the likelihood that you will need long-term care at some point during your retirement years. The odds of needing … [Read more...] about Illinois Medicaid Eligibility for Seniors