One of the most important aspects of estate planning includes determining long-term elder care. Since traditional health insurance plans don’t cover elder care, many people have to pay nursing home fees on their own. However, putting a plan in place can help you ensure your long-term care needs are met. Our Rockford elder law attorneys have put together what you can do to prepare for Medicaid and nursing home expenses.
Preparing for Medicaid Coverage
Medicaid is a joint federal-state program that people can enroll in if they meet specific qualifications. To obtain Medicaid, you need to file an application to the state, and they will determine if you are eligible. Medicaid is designed to help people who are disabled or over the age of 65 who have low income and limited resources.
Medicaid planning is essential because qualifying can be challenging. In many cases, applicants don’t qualify because they are over the income limit, over the asset limit, or both. However, even those who don’t qualify still aren’t able to cover nursing home or other elder care expenses. You can start your Medicaid planning with the help of an experienced elder care attorney. An attorney can analyze your unique case and help you develop a strategy for your case.
Will Medicaid Pay for a Nursing Home?
If you have limited assets and a low income, Medicaid might help you pay for your nursing home. Both Wisconsin and Illinois allow nursing homes to take Medicaid payments from residents. However, income guidelines for Medicaid vary depending on the type of long-term care you are seeking. If you want to start planning for elder care, you need an experienced attorney on your side to guide you through the process.
Rockford Elder Law Attorneys
Our elder law attorneys are available to answer your questions and concerns regarding what you will need to live comfortably. Our team has extensive knowledge and experience handling complex issues regarding nursing home care, Medicaid, long-term care, and more. Our seasoned legal professionals are ready to get to work drafting the legal documents you need to ensure that you have access to Medicaid, VA, or disability benefits when the time comes.
Contact our elder law attorneys today at (608) 292-5185 to schedule a case review. We are proud to serve Rockford, IL, Madison, WI, and surrounding areas.