Most Americans typically live to be 79 years or older, but they rarely have the resources needed to fund long-term care. If you are starting to plan for long-term care for yourself or your loved one, you may be looking into applying for Medicaid. To guide you through the process, our Metro West Boston elder care attorneys explain the Medicaid application process.
Medicaid is a federal and state program for low-income families that provides coverage for medical and long-term care. Medicaid often covers the following:
Medical, support, and prescription costs,
Long-term nursing home care,
Community-based alternatives to nursing homes,
Personal assistance services,
How to Apply for Medicaid
The first step to applying for Medicaid is to determine if you are eligible. In general, your eligibility will depend on your age, income level, number of dependents, and if you are pregnant or have a disability. To determine if you are eligible, you can fill out this form on healthcare.gov to see your eligibility results.
Planning for Long-Term Care
There are many moving parts when it comes to Medicaid and long-term elder care. Did you know that Medicaid has a five-year look-back period? This means that they will look at your finances to determine if you are eligible for medical coverage. This means that if you wanted to transfer funds to your children within those five years, Medicaid would consider that a red flag. For such reasons, it is vital that you plan ahead, create trusts, and develop an estate plan that will benefit you when you need long-term care.
Need help planning? Contact Marsden Law P.C. today at (800) 828-7854 to schedule a consultation!