If you do not already have a Medicaid plan in place, you should reach out to an attorney and start the Medicaid planning process today. When you apply to get Medicaid overage, Medicaid looks back at five years of financial transactions. If you transferred ownership money or property, including giving money or property as a gift, this could temporarily disqualify you from being able to get Medicaid coverage. This review of five years of transactions is called the Medicaid five-year lookback … [Read more...] about Why do you need to start Medicaid planning early?
Making a Medicaid plan is essential if you want to ensure you can get Medicaid to pay for the nursing home bills you incur as you get older and must move into a nursing care environment. Unfortunately, many people make Medicaid planning mistakes that end up costing them the ability to get the care that they require. Some common Medicaid planning mistakes include waiting too long to make a Medicaid plan, using the wrong kind of trust for Medicaid planning, and not getting legal help with the … [Read more...] about What are some common Medicaid planning mistakes?
It is important for seniors to know eligibility requirements for Medicaid because many seniors will need to successfully apply for Medicaid coverage to get nursing home care paid for. As you get older, your chances of needing care in a nursing home rise. Unfortunately, Medicare only pays for skilled care, such as when you’ve had surgery and must have the bandages changed by a nurse. Outside of these circumstances, Medicare provides no coverage for nursing homes. Most seniors don’t need … [Read more...] about Why is it important for seniors to know eligibility requirements for Medicaid?