Dallas-Fort Worth Adult Medicaid Attorneys

Protect Your Finances: Plan for Nursing Home Costs Today

Whether you’re looking ahead a few years, planning for something long down the road, or preparing for an upcoming transition, now is the time to consider nursing home costs and Medicaid assistance may play into your future. Did you know that the typical American lives to be 79 years old? Unfortunately, poor planning leaves many people lacking the financial resources to fund nursing home care from the date of admission until they pass away. 

What to Expect

Navigating Medicaid eligibility and benefits can be overwhelming without experienced guidance. Our team at Crain & Wooley is here to help, offering knowledgeable counsel on Medicaid matters with a flat-rate structure. This flat fee of $9,750 covers our work on your case as we develop personalized strategies to protect your assets and achieve your Medicaid goals. To get started, we will collect the first half of your fee to begin asset preservation work, ensuring eligibility and income qualification. The second half of your fee will be collected after the asset spend-down strategy is completed and approved by you, allowing us to proceed with the Medicaid application process.

Understanding Medicaid vs. Medicare: Key Differences Explained

People commonly misunderstand the major differences between Medicaid and Medicare, two government-supported healthcare programs. While both are federally funded, Medicaid is state-administered and varies from state to state. Another major difference is that Medicaid is for individuals of limited means, while Medicare is for people who are 65 years old and older or those who are severely disabled, regardless of their income.

Common Conditions That May Require Medicaid Assistance

• Parkinson’s disease
• MS / Multiple Sclerosis
• Alzheimer’s and early-onset Alzheimer’s
• Dementia and early-onset dementia
• ALS / Lou Gehrig’s Disease
• Long-term rehabilitation

Can I Afford Nursing Home Care Without Going Bankrupt?

You may have heard of “nursing home poverty”— without proper planning, this is a reality for far too many people. The average cost of a nursing home stay in Texas is $6,000/month. While this amount may seem daunting, we offer our clients assistance in applying for Medicaid, which can cover these costs.

Eligibility Requirements: Do I Qualify for Medicaid?

To qualify for Medicaid, you need to pass an income test and an asset test. This is where things can get complicated. The qualifications change based on criteria like marital status, the medical needs of each person in the couple, the type of assets, the state in which the assets are located, and so on. Because it can be so involved, we encourage clients to work with us to create a clear and proactive plan to protect as many assets as possible and still qualify for the assistance they require.

Can Medicaid Claim My House After I Pass Away?

Thanks to MERP (Medicaid Estate Recovery Program), the home of a deceased person who received financial aid for a nursing home stay could be recovered by the state to “payback” the program. But, by working with an estate planning attorney who understands the Medicaid system, there are options available that will prevent the government from being allowed to claim the home.

When Should I Start Planning for a Nursing Home Stay?

Time is of the essence when facing a long-term care decision. There are particular timelines you must follow if you hope to protect all of your assets. You’ll need to have a plan in motion five years before you apply for adult Medicaid if you want to protect 100% of your assets.

If you are looking at a transition sooner than five years, Crain & Wooley can also help you create an emergency nursing home plan. An emergency plan cannot protect all assets, but we can protect a significant portion.

Why You Need Legal Assistance for Adult Medicaid Qualification

People are often baffled by the complex world of Medicaid applications when faced with a medical emergency that requires nursing home care or in-patient treatment. An attorney who is familiar with Medicaid eligibility is a great source of assistance to decipher such complexities, including how to proceed in cases of unanticipated nursing home care.

An experienced Medicaid lawyer can help ensure the following issues are properly handled:

• Crafting your monthly income to fit below the $2,250 income cap
• Structuring a plan to keep your total available resources below the $2,000 limit
• Addressing real estate to avoid Medicaid recovery claims after you pass away

Contact our Texas law firm at (972) 945-1610 for help in Plano or Mansfield.

Explore More: Related Readings on Medicaid and Elder Law

• Paying for Elder Care: Private Financing vs Medicaid
• Does Medicaid Cover Nursing Home Expenses
• Medicaid Can Take Assets after Death

Let Our Dallas-Fort Worth Medicaid Team Provide Peace of Mind

While each of these worries is valid, they don’t have to be your burden to bear. At Crain & Wooley, we make sure we’re the most knowledgeable estate planning law firm in the area so we can offer you peace of mind and protection in each phase of life.

Every few years, the Medicaid eligibility rules change, making it hard for individuals and families to protect their assets and qualify for Adult Medicaid. Thankfully, there is a way to avoid losing your hard-earned assets, should you need long-term care.

If you have more questions for our lawyers about nursing home planning or adult Medicaid, then please fill out our online scheduler or give us a call at (972) 945-1610 to request a free consultation.