Medicaid Planning

Elder Law Lexington works with the Medicaid rules to create long-term care plans for clients’ anticipated care needs.

Are you worried about paying for long-term care without bankrupting your family? Are you confused about the difference between Medicare and Medicaid and what types of long-term care are covered by each? McClelland & Associates, PLLC - Elder Law Lexington can help. Medicaid is a joint federal-state program that can provide health insurance coverage to qualified seniors. Unlike Medicare, Medicaid also covers nursing home care for those who qualify. For many people who do not have insurance that covers long-term care, Medicaid has become the primary way for the middle class to pay for nursing home care. The nursing home Medicaid rules are numerous, complex and ever-changing. We work with the Medicaid rules to create a long-term care plan that takes into account each client’s anticipated care needs while also taking full advantage of permissible asset protection strategies. These strategies will typically stretch a family’s resources, saving thousands of dollars.

Elder Law Lexington can help qualify a family member for Kentucky Nursing Home Medicaid benefits whether they are already in a long-term care facility or are planning for that time. Although sometimes families are told that they must "spend down” their assets in order to qualify for these benefits, there are ways to legally restructure assets and still qualify for Kentucky Medicaid benefits. That’s why it’s important to seek the advice of an experienced Kentucky Medicaid Planning law firm, like Elder Law Lexington, to discuss your situation.

Robert McClelland is recognized for his experience as an elder law and special needs planning attorney. McClelland is a Certified Elder Law Attorney, being board certified in the practice of elder law by the National Elder Law Foundation, the only organization recognized by the American Bar Association to grant certification in elder law. Robert has focused his practice to counsel families of aging clients and special needs families on legal issues affecting asset protection in long-term care and public benefits, guardianship, Medicaid planning, financial exploitation and abuse.

Medicaid has become the single largest provider of financial assistance for nursing home residents in the United States. Long-term care is so expensive that most families exhaust their hard-earned life savings within one or two years of a family member moving into a nursing home. Medicaid planning involves protecting assets against the cost of long-term care. There are two forms of Medicaid planning:

  • Long-term care planning
  • Medicaid crisis planning

With proper planning, you can always save money. Given that almost 3 out of 4 people age 65 and over will require long-term care at some level in their lives, long-term-care planning is extremely important. Elder Law Lexington counseling helps clients remain independent for as long as possible, while at the same time taking steps to protect their life savings in the event of incapacity and the need for long-term care. We can help clients obtain assistance from Medicaid to pay for long-term care. It is important to note that there are strict laws governing eligibility for Medicaid benefits to pay for long-term care. Many people think they can simply give money and property away to loved ones in order to become eligible. While gifting is certainly possible, there are severe Medicaid eligibility and tax consequences for doing so improperly, including the denial of benefits for several years.

With Medicaid planning at Elder Law Lexington, we will help you:

  • Counsel all options for paying long-term care
  • Protect financial assets while obtaining vital long-term care
  • Obtain Medicaid benefits where necessary
  • Create necessary documentation for estate planning
  • Avoid the state’s claim on assets for Medicaid benefits provided

Even if you do not believe you have many financial assets to protect or have not made plans for long-term care considerations, it’s time to review for a strong plan now. Contact Elder Law Lexington - McClelland & Associates, PLLC and speak directly with a qualified Medicaid planning attorney to discuss your particular situation. Give us a call at (859) 543-0061 or (800) 773-4040.