Medicaid Planning

Medicaid is a state benefit that can help seniors with low income or limited resources afford short-term and long-term nursing home care. To qualify, your income and asset must not exceed certain limits. Everyone has the option to privately pay for nursing care, but many individuals cannot afford this expense. The average cost of a nursing home in Mississippi is $6,405 per month.

There are a number of tools available in Medicaid planning to help a client qualify for Medicaid benefits. You may have heard some of these terms: trusts, annuities, gifting, promissory notes, annuities, or spend down. Trying to navigate these tools alone or using an inexperienced attorney to create a Medicaid plan can result in mistakes, leading to ineligibility and the possible loss of a lifetime of assets. Often, hospitals and nursing homes will offer to file a Medicaid application for you at no cost. Be careful, they do not represent you, but rather, the institution for which they work. Even with the best intentions, they often do not have the legal knowledge necessary to determine whether or not your application is accurate and they will not assist you with techniques that help you preserve your assets.

The laws around Medicaid qualification are extensive, and there are many exceptions. We can design and implement a comprehensive plan to protect your assets while getting you or your loved one ultimately qualified to receive government benefits that help pay the extremely high cost of nursing home care.