Long Island Medicaid Application Attorney Explains How to Apply for Medicaid
The Medicaid system offers important benefits to impoverished people requiring nursing home or in-home care. Navigating the application process and securing those benefits can be very complicated, which is why it is important to have an experienced lawyer to guide you through the process. At Davidow, Davidow, Siegel & Stern, our Long Island Medicaid application attorney team has been helping people and families on Long Island plan for the future, protect their assets, arrange for their own care, and be prepared in the event of a crisis. We have significant experience guiding clients through the maze of Medicaid eligibility requirements.
A Long Island Medicaid Application Attorney Walks Through The Medicaid Application Process
There are several restrictions on Medicaid eligibility, which vary based on the situation and the type of assistance you are seeking. A Medicaid application lawyer can not only handle the filing of the application, but also make sure that you provide all of the information necessary to get the full benefits to which you are entitled. The attorney can also work to keep the process on track and that the application is processed within the stated deadlines. Most importantly, the Medicaid application lawyers at DDSS will maximize the amount of money you can save.
Protecting Assets and Avoiding Penalties
Medicaid imposes strict asset limits on people seeking benefits for nursing home care. It also imposes certain penalties on people who transfer assets in order to become eligible.
A person seeking nursing home Medicaid benefits can only have a small set of assets which changes every year along with certain limited additional assets like an irrevocable prepaid funeral plan. If someone transfers assets and they are caught within the five year look back, a mathematical formula is used to determine ineligibility which is an amount of time, not a financial penalty. That is unless the money or assets are being transferred to your spouse.
Because of the restrictions and penalties, some people may be better off delaying their Medicaid benefits applications or take advantage of other creative techniques.
Another option is to spend down certain assets to compensate family caregivers in an effort to meet the Medicaid eligibility requirements.
The biggest asset that many people want to protect is their home. The good news is that there are ways to avoid losing the property while also ensuring that you are eligible for Medicaid benefits. One option is to transfer the home to an irrevocable trust. It is vital to seek the advice of an experienced elder law planning lawyer to understand your options and select an approach that is right for you.
If you anticipate needing to apply for Medicaid in the coming years, it is important to start strategizing now. The earlier you start planning, the better. A Long Island Medicaid application attorney at our firm can help you identify the assets you want to protect, establish a plan and ensure that you remain eligible for Medicaid benefits.
Protecting Your Spouse
For married couples, it is vital to consider the implications of one spouse applying for Medicaid benefits. The goal should be to obtain Medicaid eligibility for one spouse while protecting the standard of living for the other.
When to Complete a Medicaid Application
The decision when to file an application for benefits should not be taken lightly. Timing mistakes can prove incredibly costly. Apply too early and you may be penalized, forced to shed assets or required to sit out longer ineligibility periods. File the application too late and you may miss out on valuable benefits while waiting to be approved.
Fortunately, there is no penalty for starting to think about applying for benefits and arranging your assets for when the time is right. Your physical and mental health can change suddenly and with little warning. Having a plan in place offers the peace of mind that comes with knowing that you and your loved ones are ready.
Our Long Island Medicaid application attorney team understands that it can be difficult to think about long-term care and planning for potential incapacity. We also know that it is crucial to have these discussions before it is too late.
Is Hiring a Lawyer for My Medicaid Application Really Worth It?
People and families who are thinking about applying for Medicaid benefits can eliminate much of the risk and uncertainty that comes with it by consulting a seasoned attorney. A lawyer who knows how the system works and has helped others navigate the Medicaid system can help you come up with the right strategy to protect your assets without missing out on valuable benefits.
Not all lawyers are the same when it comes to Medicaid and estate planning. You should seek the advice of an attorney with specific experience in Medicaid, particularly in the state in which you are seeking benefits. The cost of hiring a lawyer is often far outweighed by the risk of making a mistake by going it alone or choosing the wrong lawyer.
An experienced lawyer will create a personalized Medicaid planning strategy designed to enable you to protect as many assets as possible to meet your current and future needs while also ensuring that you qualify for long-term care services if and when you need them.
Learn How a Long Island Medicaid Application Attorney Can Help You with the Application Process
If you or a loved one is struggling with long-term care planning or looking for assistance navigating the Medicaid system, DDSS can help.
Our offices are conveniently located in central Suffolk County, but we serve all of Long Island and the greater New York area. We are also pleased to meet with clients via Zoom, FaceTime and other video conferencing tools. Call us, contact us online or use the live chat function to schedule a consultation with a Long Island Medicaid application attorney today.