Is Long-Term Care Medicaid Planning Right For You And Your Family?
Are you concerned about your health care needs becoming a drag on your family? Are you worried that if you don’t rely upon your family, you’ll have to drain your assets to pay for your care? Being proactive and taking steps today to eliminate these concerns can greatly benefit you down the road. This article touches on how Medicaid planning can help you and your family.
What Is Medicaid Planning?
Medicaid Planning is a way for you and your family to prepare for future long-term care needs and costs. Many older adults will need care, whether in a nursing home, assisted living facility, or at home. Long-term care is a substantial financial cost, and Medicare generally does not cover these costs.
When you become eligible for long-term care through Medicaid, the bulk of your nursing home bill could be paid by the government. However, successfully applying for long-term care Medicaid is complicated, and mistakes in the application process can be expensive. Medicaid planning attorneys help clients protect their assets and get approved for Medicaid.
How Does Medicaid Planning Impact Families?
Medicaid planning has a significant impact on you if you need care, but it also substantially affects your family. When family members step up to provide care for you, this could come at a high cost to them, both physically and financially. Your family members may be unable to help meet your needs, even if they say they will help.
Medicaid planning can allow you to relieve your family of these risks. You could be cared for under Medicaid’s long-term care benefits, including at-home care or care in a nursing home or assisted living facility. That takes away the burden of your care falling onto your family members. With careful planning, you could protect your assets for the benefit of your family while still obtaining Medicaid benefits now or in the future.
Indiana Medicaid Planning Lawyer
Medicaid planning can be complicated. Deciding on the best course of action for you and your family may be difficult. Reaching out to an experienced Medicaid planning attorney can help. Hawkins Elder Law can help you decide how you or a loved one can protect assets and qualify for long-term care Medicaid. To learn more about planning to apply for long-term care Medicaid, reach out to Hawkins Elder Law at (812) 268-8777 or contact us online.
About The Authors
Jeff R. Hawkins and Jennifer J. Hawkins co-author this blog with Thomas E. Hynes, a lawyer admitted to practice in Pennsylvania, New Jersey and Florida who has a background in estate planning and elder law. Jeff and Jennifer are Trust & Estate Specialty Board Certified Indiana Trust & Estate Lawyers. They are also active members of the Indiana State Bar Association and the Indiana Chapter of the National Academy of Elder Law Attorneys (NAELA). Jeff is also a member of the Illinois NAELA Chapter.
Both Hawkins are admitted to practice law in Indiana, and Jeff Hawkins is admitted to practice law in Illinois.
Jeff is a Fellow of the American College of Trust and Estate Counsel and the Indiana Bar Foundation. He is also a member of the Illinois State Bar Association and he served as the 2014-15 President of the Indiana State Bar Association.
More Information
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