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Don’t Lose Out On Benefits Because Of These Medicaid Myths!

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Families sometimes have many questions and concerns about the long-term care of a loved one. A nursing-home stay or the need for involved care can leave family members wondering what options are out there for them. 

With a solid Medicaid plan in place, qualification for benefits is easy and you’ll no longer have to worry about becoming a burden to loved ones or running out of money to pay for your continued care. You will also enjoy the peace of mind knowing that your assets and income streams will stay preserved for a healthy spouse or a child with special needs still living at home.  And your inheritance will transfer safely to your loved ones after your passing, rather than getting eaten up by nursing home costs. (see our previous article Plan For A Worry-Free Tomorrow)

Don’t Lose Out On Benefits Because Of These Medicaid Myths!

Myth #1:  You have to be impoverished to qualify for benefits.

FALSE.  While Medicaid is a need-based program, the government approves the use of legal tools such as trusts, to help you reallocate assets and ultimately fall within Medi-Cal’s income and asset guidelines.  The purpose of Medicaid is to prevent people of modest means from becoming impoverished because of a disability or long-term care need.  Medicaid planning provides the best of both worlds to ensure you can receive government benefits without sacrificing your nest egg or entire life savings.

Myth #2: You’ll have to use up your resources and “spend down” any assets before you can qualify.

FALSE.  Sometimes people are provided with incorrect information about how to spend down assets, such as making gifts of your home or money in an improperly structured manner, selling your home and dividing your estate in order to qualify for Medicaid benefits.  Heeding this advice can actually cost your eligibility for Medicaid benefits in the future.  Yes, you need to be within the asset limitations, but there are better ways then “spending down” to reach them.  Many things can be done to preserve your assets, safeguard your income and still qualify for Medi-Cal. 

Myth # 3: I have too much income to qualify.

FALSE. Although income is an important factor in determining the “share of cost,” it is not a determining factor for Medicaid qualification.

Myth #4:  I have already been denied for Medicaid benefits and do not qualify.

FALSE.  It’s OK if you’ve been denied for Medicaid benefits in the past. This is why Medicaid planning exists, to help you make the necessary changes that will allow you to receive your benefits in the future.  We can help you make such changes and reapply at the appropriate time.

Don’t Wait—Learn How Medicaid Benefits Can Significantly Reduce... or Eliminate... Your Long-Term Care Costs!

Whether you are contemplating your long-term care options or you are already under nursing home care, Grunden Law Office can help you qualify for Medicaid benefits while also preserving your assets, legacy and providing for the future security of your loved ones still at home. 

To schedule a complimentary consultation, call our office at 260-969-1177 or email info@grundenlaw.com.