The costs of medical care can be astronomical. It is critical for families with aging or disabled family members to consider the costs of future care and make a long term plan to pay for such care. Sometimes these plan include understanding and taking advantage of Mass Health, Medicaid and other public benefits. Blake Law can help families understand the options available to them to assist with long-term care financing for the elderly and disabled.
Blake Law will assist you with developing a comprehensive plan for you or your family member that includes specific consideration of ensuring there are funds available to pay for what you value. This likely includes but is not limited to the cost of your residence or residential care.
Medicaid, known as Mass Health in Massachusetts, is a joint federal/state program that supports the cost of nursing home care for persons who qualify. Planning for Mass Health eligibility involves a thorough review of the elder’s estate. If your family member has excess assets to qualify they will need to “spend down” those assets. Strategies such as prepayment of final expenses and, if appropriate, the transfer of assets may be used to help shelter those assets. Our assistance extends beyond planning to the actual application for Medicaid (Mass Health) benefits.
There is a right way and a wrong way to preserve and spend down assets. It is important to talk to an experienced Medicaid planning attorney now. We can assist with long-term planning if you or your family has mental health or medical issues or is getting older. We also can assist with last minute planning when you think that a family member may be entering a long-term care facility or will require Medicaid benefits to pay medical bills. Families are often unaware of the options available to them to ensure they have assets available to live in the way they desire and also protect their family assets in a way that will have a substantial long term impact.
Early planning allows most families to:
- Preserve assets for future generations or to avoid impoverishing a healthy elder to pay for care for his or her spouse.
- Conserve assets for later use to pay for extraordinary expenses of the nursing home resident (such as in a special needs trust).
- Plan for payment of assisted living expenses.
- Transfer assets in a manner that is lawful and does not jeopardize Medicaid eligibility.
- Qualify their elder or disabled family member for Medicaid financial support.
- Help their elderly family member get into housing placement that best meets their needs and wants.
- Save the family significant money.
We hope you will allow us to assist you at this critical time with asset protection for Medicaid planning, or long term care planning. Contact our office to speak to an attorney. The sooner you begin planning, the more options we can provide you.