Many senior citizens need long-term care at some point. Some senior citizens do not have family members who can give them the kind of care they need, and because of that as well as many other factors, they will need nursing home care.
But nursing home care and other long-term care arrangements are expensive. Medicaid can help fund these things, but you must meet the financial qualifications. Estate planning is critical for many people to be able to qualify. At The Law Office of Aubrey Carew Sizer PLLC, our estate planning attorney in Virginia will walk you through the estate planning process and help you begin planning for Medicaid early so that you and your spouse will qualify if or when the time comes and you need the help. Call (571) 403-2619 to schedule a consultation today.
What is Medicaid?
Medicaid is a federal program that provides healthcare coverage to individuals as well as low-income families. The costs of this program are typically covered by a combination of federal and state funding. Services are provided to those with limited financial means so that they can obtain the medical care they need with limited out-of-pocket costs.
Medicaid also provides coverage to disabled people in some situations. It can assist the elderly with paying Medicare premiums.
Planning for Medicaid in Virginia
Before applying for Medicaid, many people go through a process known as Medicaid planning. Medicaid planning is assessing a potential applicant's ability to receive Medicaid and taking steps to improve their chances of receiving it.
Why People Plan for Medicaid
There are multiple reasons why people engage in Medicaid planning in order to qualify for the program. Three common reasons are:
- To obtain coverage for the cost of long-term care that they would not otherwise be able to afford;
- To preserve assets that may otherwise be subject to Medicaid's estate recovery program; and
- Because the Medicaid application process can be confusing, getting assistance from someone who understands how it works can prove very beneficial in the long run.
Medicaid planning benefits people who need the services provided but fear they may not qualify. If you do not have the financial resources or family members who are able to care for you when it becomes harder for you to do it yourself, you should speak to an attorney to plan for your long-term care. Qualifying for Medicaid can be life-saving if you need it.
Medicaid Eligibility & Coverage in Virginia
Medicaid planning exists to provide medical coverage to those people who need it most. Following are some of the main qualifications that must be met.
Income-Based Eligibility
Income is one of the primary factors considered in a Medicaid eligibility determination. For most children, pregnant women, parents, and adults, their income must be below a certain threshold. This amount is calculated using taxable income and tax filing relationships.
A major mistake that some people who need to qualify for Medicaid make is to give their possessions away to children or other family members so that they may qualify for benefits. However, as a program of last resort, there are rules established to prevent individuals from doing just that. Accordingly, it may not be in your best interest to give away your property. Thus, it is important to speak with an estate planning attorney in Virginia before making a large gift, especially if you do not currently have an estate plan in place which clearly outlines how you will pay for any eventual long-term care needs.
Non-Income Based Eligibility
There are ways to qualify for Medicaid even if you are unable to qualify under the income requirements. Blindness, disability, or age (over the age of 65) are other ways to qualify. Veterans may also qualify for Medicaid benefits.
Coverage Services Provided by Medicaid
Federal law mandates that certain services be covered by Medicaid, while other services are decided by each state. Typically, Medicaid covers the following:
- Inpatient and Outpatient Hospital Visits
- Home Health Services
- Physician Services
- X-Ray Services
- Laboratory Services
You will need to check with your state to determine what other services may be covered.
How a Medicaid Attorney in Fairfax County Can Help
If you or a loved one is in need of the long-term care that Medicaid helps cover, but you are unsure if you will be able to qualify, a Medicaid attorney in your area can help. They will know what the threshold amount is for qualification. If your income exceeds that amount, they will be able to work with you to formulate a plan to help you become qualified. One of the ways to accomplish the latter is to carefully review your assets and determine what would and would not be considered when your financial situation is assessed to determine Medicaid eligibility.
Contact an Estate Planning Lawyer in Virginia for Medicaid Planning Today
At The Law Office of Aubrey Carew Sizer PLLC, our estate planning lawyer understands the importance of Medical eligibility for seniors who need long-term care. Unfortunately, too many people learn about estate planning for Medicaid when it is too late. Start early to avoid future problems, and make sure you qualify for Medicaid when you most need it. Contact us by using our online form or calling us directly at (571) 403-2619. We will schedule a consultation and help you get started on Medicaid planning today.