Reviewing the Laws

Long Beach Medi-Cal Planning Attorney

There is a damaging misconception concerning Medi-Cal Planning that you must impoverish your family before qualifying for long-term-care coverage.  This is simply not correct.  Medi-Cal guidelines allows families to keep their homes, certain assets and a portion of their income.

It is important to choose a lawyer possessing the knowledge to protect your assets while qualifying you for Medi-Cal.    

Experienced Medi-Cal Planning Attorney

long beach medi-cal planning
Medi-Cal Planning:

Medi-Cal is a joint federal-state program that pays certain healthcare costs. The program is needs-based, meaning that it is available to those who meet certain financial criteria, including income and asset limits.

Many middle-class seniors rely on Medi-Cal to pay for their long-term care coverage.  Yes, a qualified attorney may qualify you even though it appears that your assets exceed Medi-Cal limits.

 

Medi-Cal planning for long term care depends on a handful of factors. After you demonstrate that you need nursing home care, two things matter: your income and your assets.

 

Medi-Cal has a recovery statute that could result in you losing your home thereby preventing your ability to pass your home to your children.  The way the Medi-Cal guidelines are applied to your neighbor’s situation may not be true for your situation.  This is why estate planning and elder law attorneys do not recommend a do-it-yourself approach to Medi-Cal planning.

It's Never Too Late To Start Medi-Cal Planning!

Long Beach Medi-Cal Planning Attorney

A huge mistake many people make is to assume that it’s too late to seek help and engage in Medi-Cal planning. They think their only option is to pay out of pocket for care until they’ve depleted their assets enough to qualify for coverage.

 

What happens if you do not meet the Medi-Cal’s income and asset tests? For many people, they are forced to pay for care out of pocket each month until they have spent enough assets to qualify for coverage.

 

First, spending your assets in this manner leaves your loved ones with no financial cushion. Wouldn’t it be a shame to let a lifetime of hard work and disciplined savings go to waste, leaving your family without a safety net in the event they are faced with their own crisis in the future?

 

In California the average cost of nursing home costs averages $110,964 annually, a lifetime’s worth of savings could disappear.

 

Many people in this type of crisis situation find themselves unable to qualify for Medi-Cal because their assets exceed the qualification limits – they own too much.

 

Do not make the biggest mistake many people make, assuming that it’s too late to seek help and engage in Medi-Cal planning. They believe their only option is to exhaust their assets paying for care until they’ve depleted their assets enough to qualify for coverage.

Call for a FREE Case Evaluation!

 

Please contact our office if you’re interested in determining how we assist you to establish an effective estate plan, preserve assets, and protect your loved ones.

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