Lower Burrell Medicaid Lawyer: Chris Harkins
Medicaid application isn’t always a seamless process. For some seniors, the process would only require gathering a few documents required to apply for the program. But for many others, they would need a Lower Burrell Medicaid lawyer to help them navigate the various laws governing the financial and asset limits for eligibility purposes.
Lower Burrell Medicaid laws can be complex and time-consuming for a new applicant. Additionally, many families in the city may not be aware of what it takes to maximize the benefits of a Medicaid program. Some may even rule out their eligibility because of the size of their estates.
Medicaid planning is important to every senior regardless of the size of their estate. However, judging by the costs of care in nursing homes in Lower Burrell, PA, it may be challenging for an average family to afford such fees. And it’s heartbreaking to discover that seniors risk losing a considerable part of their estate to piling nursing home bills.
Therefore, for the sake of peace and good health, when you need Medicaid, it would be best to consider getting help to plan your estates strategically. Here’s all you need to know about Medicaid planning in Lower Burrell and AK Valley region and what a Medicaid lawyer can do for you.
What’s Medicaid Planning?
Medicaid planning is the services given to potential Medicaid applicants to help them meet the asset eligibility requirements of the program. These services vary depending on the client’s financial status. They may include:
- Preparing documentation for the application.
- Creating trusts and Long-term Care Partnership Programs.
- Converting countable assets to exempt assets.
- Managing asset transfers.
And much more.
Medicaid planning is an important part of long-term care planning and shouldn’t be confused with estate planning. Both plans involve protecting and managing your assets for the sake of the beneficiaries. However, Medicaid planning aims at speeding up the process of Medicaid application by meeting the assets eligibility requirements.
Importance of Strategic Asset Management Prior to Medicaid Application
In most states, the countable asset limit for Medicaid eligibility is $2,000 and a monthly income below $2,382. However, having more than this limit doesn’t mean that you can’t be eligible for the program.
Here is why early Medicaid planning is important.
Avoid Asset Spend Down
If you plan for your assets early enough, you’ll be able to avoid “spending down” to meet the eligibility limit. This is because when your assets exceed the set limit, you’ll be forced to use up the excess amount to reduce your assets without triggering the look-back rule.
Spending down options can be tricky as the regulations have specific permissible expenses that can be made. For example, you can pay for a legitimate debt, but you can’t gift your assets to a family member or loved one. If you do so, you’ll be ineligible for the program for a certain period.
The sad bit about spending down is that you have to use up money or assets you saved for a rainy day. Additionally, without effective Medicaid planning and the help of a Medicaid lawyer, you may never know how to spend down your assets legally.
Avoid Look Back Period Penalties
The look-back period is a timeframe in which Medicaid investigates an applicant’s past gift transfers or asset sales. This period is usually 60 months in most states, including Pennsylvania.
The scrutiny is done to determine whether there’s any violation of the look-back rule, which would automatically attract a penalty. Therefore, planning for your assets earlier helps you avoid such penalties and allows you access to more benefits of the program.
Avoid Losing Your Estates to MERP
The Medicaid Estate Recovery Program (MERP) is Medicaid’s attempt to recover the costs of the program’s services after the death of its beneficiary. In most cases, the beneficiary’s home is the remaining asset that may be put up for sale for MERP recovery.
There’re so many questions that Medicaid beneficiaries and their families ask regarding the MERP program. Often, the families worry about what would happen to an elder’s home while in a nursing home or after they die. But, on the other hand, the beneficiaries also worry about their children or spouses losing their only inheritance to the recovery program.
The truth is that the answers to these questions are unique for each situation. That’s why hiring a Medicaid lawyer is the best way to handle such complexities successfully.
Medicaid Pre Planning Vs. Medicaid Crisis Planning
While Medicaid pre-planning has the most benefits of the program, you’ll be surprised to know that many seniors and their families rarely take advantage of early planning. Instead, they often assume that estate planning would take care of everything or are misinformed about Medicaid planning. And before they know it, they plunge themselves into a Medicaid crisis and face huge nursing care costs.
Medicaid crisis planning takes care of the immediate eligibility needs of a Medicaid applicant. Several scenarios may lead to crisis planning, such as an abrupt medical event that requires prompt nursing care services for the elderly.
The cases may even be more complex when the assets of the elder’s spouse need to be spent down for eligibility purposes. In such a case, the plan also has to consider the spouse and children’s needs to protect them from losing their livelihood.
Advantages of Medicaid Pre Planning
You’ll definitely be eligible for the Medicaid program if you plan for your assets soon enough. Usually, it’s advisable to plan for Medicaid for at least five years before anticipating the need for long-term care. By doing so, you won’t have to worry about the 60-month look-back period.
Other benefits of preplanning include:
- Saving the inheritance of your spouse and children.
- Preserving your wealth.
- Securing long-term care services.
- Avoiding the Medicaid crisis.
A Lower Burrell Medicaid Lawyer Can Help You
If you’re in need of a Medicaid lawyer in Lower Burrell and the Alle-Kiski Valley region, Chris Harkins is the right person to contact. As a licensed lawyer practicing Elder Law, Harkins has great knowledge and experience in both Medicaid preplanning and Medicaid crisis planning.
Being ineligible for the Medicaid program may cost you and your family everything you worked hard for within a short period. Contact Harkins Elder Law by calling (724)-472-8717 or booking an appointment online to find out your options.
Do You Need a Medicaid Lawyer to Apply for Medicaid?
You don’t need a lawyer to apply for Medicaid if you already qualify for the program. However, having an elder law attorney by your side increases your eligibility for this program because they’re familiar with the whole process and what it entails.
They can also help you avoid costly mistakes and hurdles throughout your application. For instance, a Medicaid lawyer uses legal means to adjust your assets to reach the program’s eligibility limit through Medicaid planning.
How Do I Apply for Medicaid?
To apply for the program, you can contact the Medicaid agency in your state or County Assistance Office.
However, Harkins Elder Law can help you through both the Medicaid planning and application process to make things easier and faster for you. Remember, the number to dial is (724)-472-8717.
